{"id":330102,"date":"2024-10-29T01:14:33","date_gmt":"2024-10-28T17:14:33","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330102"},"modified":"2024-10-29T01:21:01","modified_gmt":"2024-10-28T17:21:01","slug":"trade-the-news-gma7-erases-film-units-liabilities-ahead-of-reboot","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-gma7-erases-film-units-liabilities-ahead-of-reboot\/","title":{"rendered":"Trade the News: GMA7 erases film unit’s liabilities ahead of reboot"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>GMA Network Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>GMA7<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 6.50<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

GMA Network Inc. (GMA7) is preparing for a major comeback in filmmaking, announcing on Thursday the settling of advances in wholly-owned GMA Network Films.<\/p>\n\n\n\n

Instead of paying back around P18.75 million in advances, the amount was converted into equity or ownership, essentially clearing the obligations of GMA Network Films, which is also known as GMA Pictures.<\/p>\n\n\n\n

Big picture<\/strong><\/p>\n\n\n\n

\u201cThe increase in the paid-up capital of GNFI is aligned with its current and forthcoming project requirements, as the company aggressively returns to film production after several years of hiatus,\u201d GMA Network said in a stock exchange filing on Thursday.<\/p>\n\n\n\n

GMA is betting on a resurgent film industry to drive growth amid the industrywide ad revenue slowdown. ABS-CBN has also pointed to bright prospects in the film industry, thanks to its recent hit movies.<\/p>\n\n\n\n

Past successes<\/strong><\/p>\n\n\n\n

GMA Network Films was a major producer of movies for both local and international markets, its recent financial report showed.<\/p>\n\n\n\n

\u201cIts productions have reaped both critical acclaim and commercial success, foremost among them the Philippine Centennial offering Jose Rizal in 1998 followed by Muro Ami in 1999. These legacy films scored back-to-back wins for Best Picture at the Metro Manila Film Festival,\u201d the company said.<\/p>\n\n\n\n

It continued to produce movies until the early to mid-2000s, but there was no further mention afterward, suggesting a gap in production. 2023 rebrand<\/p>\n\n\n\n

2023 rebrand<\/strong><\/p>\n\n\n\n

According to GMA, the business was rebranded to GMA Pictures last year. It launched new titles catering to a younger audience such as The Cheating Game, Video City (co-produced with Viva Films), and Five Breakups and a Romance (co-produced with Cornerstone Studios and Myriad).<\/p>\n\n\n\n

(News Source: Insider PH<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330102","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330102"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330102\/revisions"}],"predecessor-version":[{"id":330112,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330102\/revisions\/330112"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}