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

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