GMA allots P20 billion for 3-year CAPEX, to launch new products

GMA is set to construct a new building at its compound in Quezon City, launch a new digital TV receiver, and expand its digital TV reach

GMA Network earmarked over P20 billion for capital expenditures from 2021 to 2023.

The Kapuso network said on Wednesday, January 6, that it will construct a new building at its compound in Quezon City mainly to house its content production operations.

This year, it is also set to launch a digital TV receiver called GMA Now, which will enable viewers to watch TV on the go for free.

The capex will also cover the continued expansion of its digital terrestrial television (DTT) reach in various regions.

“Surpassing 7 decades is no easy feat for our company especially during an exceptionally challenging year in 2020, but we are very proud of what we have achieved so far through our people’s dedication and our commitment to serbisyong totoo (true service),” said GMA Network chairman and chief executive officer Felipe Gozon.

The network saw its earnings surge by 79% in the first 3 quarters of 2020, but primarily due to cost-cutting measures and the shutdown of its rival ABS-CBN

Source: https://www.rappler.com/business/gma-network-allots-billions-capital-expenditures-launch-new-products

RSS Latest Press Release

  • The Mold Girl Ramps Up Annual Air Quality Testing Following High Demand
    Daniel Island, SC – Entrepreneur Elizabeth Keefer, aka The Mold Girl, is stepping up to meet demand from worried residents concerned about their homes being afflicted with significant health hazards.   Keefer, a well-respected council-certified indoor environmental professional, is now offering annual air quality testing for homeowners worried their homes could have mold, allergens, or other […]
  • Wendy's and Google Cloud partner to enhance the Wendy's restaurant experience
    Wendy's®  and Google Cloud today announced a partnership to enhance Wendy's restaurant experience and unlock new customer, restaurant, and employee experiences through data-driven insights.Wendy's intends to leverage Google Cloud's data analytics, artificial intelligence (AI), machine learning (ML), and hybrid cloud tools to create new ways customers can order food in the drive-thru, on their mobile […]
  • Unique Custom Marine Vault Launches New Storage Boating Facility
    Pompano Beach, FL: A new 25,000 sqft boat storage warehouse has opened to offer the best complete boat care service in Florida’s Pompano Beach.   Owned and operated by Unique Custom Marine Vault, the unit is a safe and secure marine facility with an in-house mechanic and boat transporters.    “If you are looking for a […]
  • Dreamstime launches the "Cover of the Year 2021 in Romania" contest with prizes totaling 7,500 Euros.
    Dreamstime, the world’s largest stock photo community, together with Cărturești and PressOne, announces the launch of the "Cover of the Year 2021 in Romania" contest for book cover illustrations. Publishers or graphic artists who have published books with original covers throughout 2020 and 2021 are invited to participate. Participants can submit covers using stock media […]