GMA readies new unit for global expansion

MANILA, Philippines — Multimedia giant GMA Network is gearing up for a bigger presence in the global startup scene as it explores more investment opportunities for its new subsidiary, GMA Ventures Inc. (GVI).

GVI targets to invest in unicorns or startups focused mostly on technology, in and outside the country, and is even willing to fully acquire companies that are doing really well, instead of just being a investor, GMA Network Inc. chairman and CEO Felipe Gozon told The STAR.

“We are looking for new opportunities. We are prepared to take more risks for better returns, but we will scrupulously review them. (We are) only an investor, but we don’t mind if we will control it. If the opportunity is good, we might take the whole pie,” he said.

GVI will be focused on the non-broadcast business of GMA Network, which aims to transform into one of the country’s biggest diversified conglomerates.

Gozon said GVI was born as the company was looking for higher-yielding investments instead of focusing on traditional investment opportunities.

“This is the reason why we organized GMA Ventures. We organized this to be used as our investment vehicle for non-broadcast related business opportunities that could generate for us higher revenues. These are what we call unicorns or startup ventures, focused mostly on technology,” Gozon said.

GVI has already made a few investments, around two or three, Gozon said, but they are not big-ticket items, with investments ranging from P100 million to P200 million.

“It’s still small, but we don’t start big. We are still new in this game so we have to take it slow,” he said.?Last December, the stockholders of GMA Network approved GVI’s call for subscription for its increase in authorized capital stock from P50 million to P1 billion.

GMA’s core business is television and radio broadcasting, along with the production of programs for domestic and international audiences and other related businesses.

GVI, on the other hand, will engage in mergers and acquisitions, strategic partnerships, and fund investments within or outside the Philippines.

Aside from GVI, other subsidiaries of GMA Network are GMA New Media Inc., Citynet Network Marketing and Productions Inc., GMA Network Films Inc., GMA Worldwide (Philippines) Inc., RGMA Marketing and Productions Inc., Scenarios Inc., Script2010 Inc., Alta Productions Group Inc., GMA Marketing and Productions Inc. and Digify Inc.