GMA Network has set up a new holding company called GMA Ventures Inc. (GVI) with the aim of expanding its investments and developing more businesses that provide long-term growth.
In a statement, GMA said the new holding firm will streamline the GMA Group’s investment and diversification efforts and will help transform the network into “one of the country’s big conglomerates.”
To tap new markets and revenue streams, GVI will lead the GMA Group in identifying, investing in, and 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,” GMA said.
Aiming to be at the forefront of technology advancement and the growth of the digital economy, it will likewise engage in mergers and acquisitions, strategic partnerships, and fund investments, within or outside the Philippines.
“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,” said GMA and GVI Chairman and CEO Felipe L. Gozon.
He added that, “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.”
GMA President and GVI Vice Chairman Gilberto R. Duavit, Jr. said that, “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 President and COO Regie C. Bautista.