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2 years ago

ABS-CBN not worried by Ang's possible takeover of GMA

ABS-CBN says it is not worried that businessman Ramon Ang may takeover GMA Network, saying it's focused on boosting sales. ABS-CBN chairman Gabby Lopez says the company will focus instead on growth plans, content and innovation in all its platforms. The company also expects revenues from consumer businesses such as subscriptions, mobile, entertainment center Kidzania, films and merchandising to overtake revenues from advertising in the next five to 10 years. Currently, 57% of the company's revenue comes from advertising. ABS-CBN has allocated capital expenditure of P6 billion for the year. ANC News Now, May 14, 2014 --- ABS-CBN Corp. is the parent company of and ANC.