GMA Network Inc. to sell minority stake to Ramon Ang

GMA Network’s major stockholders have agreed to sell to Mr. Ramon S. Ang a participating minority equity interest in the Company’s outstanding capital stock. The parties concerned are presently negotiating the final terms and conditions of the share purchase documents. An appropriate disclosure shall be made upon execution of the relevant definitive agreements by the parties for the transaction.

GMA Chairman and CEO Felipe L. Gozon said: “What we can confirm right now is that the Jimenez, Gozon and Duavit groups of stockholders have decided to sell a minority stake to Mr. Ramon Ang.  Details of the transaction will be disclosed once we have finalized everything.”

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