GMA Network set to diversify business via new subsidiary GMA Ventures, Inc. GMA Network Inc. said over the weekend it is looking at acquisitions and new investments in the Philippines and abroad as part of its strategy to transform itself into a conglomerate.
The company said to streamline GMA Group’s investment and diversification efforts, it would set up GMA Ventures Inc., a holding company that is 100 percent owned by GMA. It would transform the GMA Group into one of the major conglomerates.“We now set our sights on making GMA one of the major conglomerates in the Philippines.
We are taking this significant step to future-proof the network, champion innovative industries and business models, and be at the forefront of technology advancement and the growth of the digital economy,” said GVI president and chief operating officer Regie Bautista.
He said to tap new markets and revenue streams, GVI would lead the GMA Group in identifying, investing in, and/or building strong and sustainable businesses.
As a champion for innovative business models, GVI will focus on sunrise industries such as tech start-ups with substantial growth horizons and industries that continue to expand.
“Following the successful roll-out of our digital TV products and a banner year in 2020, we are looking at surpassing our own achievements not just in terms of our main media business and content production. We are actively looking for ways to diversify the Company’s portfolio by investing in sustainable businesses and, ultimately, providing the best returns to our shareholders in the years to come,” expressed GMA Network and GVI Chairman and CEO Felipe L. Gozon.
GMA President and COO, and GVI’s Vice Chairman Gilberto R. Duavit, Jr. also added, “While we tirelessly work on maintaining GMA’s leadership position within the industry, we also intend to further contribute to the growth of the Philippine economy as we protect and increase our shareholder value. GMA Ventures will be our arm in identifying other viable sources of revenue and future profit pools.”
“We now set our sights on making GMA one of the major conglomerates in the Philippines. We are taking this significant step to future-proof the Network, champion innovative industries and business models, and be at the forefront of technology advancement and the growth of the digital economy,” said GVI’s President and COO Regie C. Bautista who is also GMA’s Senior Vice President for Corporate Strategic Planning and Business Development, Chief Risk Officer, and Head for Program Support.
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