PEP.ph, led by editor-in-chief Jo-Ann Q. Maglipon, cut losses by nearly 86 percent in 2024. GMA Network Inc. recognized losses of P1.49 million—a significant reduction from P10.34 million the previous year, a stock exchange filing showed.
In 2022, it recognized losses of about P9 million in PEP.ph, where it owns 50 percent alongside the Gokongwei family-led Summit Publishing.
In past years, GMA did not detail PEP.ph's finances. According to GMA, it entered into a shareholders’ agreement with Summit to establish the company on April 16, 2007.
In 2024, GMA extended advances of about P300,000 to PEP.ph, higher than the P168,000 recorded the previous year.
This signals the shareholders' commitment to the venture, as the advances are expected to later be converted into ownership.
Not all of GMA’s digital news ventures outside its core brands turned out to be successful.
Its 50-percent joint venture INQ7 ceased operations in the same year PEP was established in 2007.
It later filed a request to the Securities and Exchange Commission to liquidate its assets in 2013.
As of the end of 2024, the process was still ongoing, according to GMA’s filing.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
