Marian Rivera leaves manager, says open to network transfer

MANILA -- Marian Rivera announced on Friday that she has left her manager of seven years, citing the move as imperative to her "freedom" to make career decisions independently.

During a press conference held on Friday, the 28-year-old actress said her decision to leave her long-time manager, Popoy Caritativo, is also due to difficulties in their working relationship.

Rivera, who is one of the most visible leading ladies of her home network, GMA-7, said her career is now under the management of showbiz veteran Tony Tuviera, who was her manager for a time before she became a talent of Caritativo's firm, Luminary Talent Management.

"Siguro hindi na nagiging productive 'yung relationship bilang talent at bilang manager. May tampuhan. For seven years, ganoon ang nangyayari," Rivera said.

According to the actress, Caritativo openly accepted her decision. "Maluwag naman niyang tinanggap. Sabi niya, 'Rerespetuhin ko ang desisyon mo.'"

Admittedly, Rivera said she has been hurting from a supposed misunderstanding between her and Caritativo, which she pointed to as one of the reasons behind her transfer.

She refused to divulge details of their alleged misunderstanding.

"Medyo masakit kasi ang nangyari sa akin. In time, ako mismo ang makikipag-usap sa kanya. Walang away na naganap, para iklaro ko. Parang may hindi lang pinagkakaintindihan.

"Pero parang unfair naman kung ako lang ang magde-detalye para kay Popoy. Siguro mas maganda kung sa aming dalawa na lang po 'yun at hihingin ko po 'yung respeto ninyo pagdating doon," she said.

'Freedom'

Her change of management, according to Rivera, will allow her to more freely and independently decide on her career.

"Ang pinaka-isa sa mga dahilan ay ngayon ay magagawa ko na ang lahat ng mga ninanais ko, na ako lang ang madedesisyon. Ito na 'yung freedom para sa akin, at isa lang ang taong naisip ko, na walang iba 'yun kung 'di si Mr. T (Tuviera)," she said.

Asked if she felt limited in terms of career choices under Caritativo's management, Rivera said, "Hindi naman sakal. Siguro, hindi ko rin masisisi si Popoy. Siguro, sabihin na lang natin na marami pa kasi akong gustong gawin sa buhay ko."

Under Tuviera's management, Rivera said she is set to negotiate her contract with GMA-7, which will expire in August this year. She added that she is open to the possibility of working under different TV networks.

"Ang GMA, hanggang August na lang ako. Hindi pa namin napag-uusapan, pero uupuan namin iyan ni tatay (Tuviera), pag-uusapan pa namin iyan, ang detalye.

"Pero hindi ko sinasarado ang pintuan ko sa iba't-ibang klaseng network, dahil nga sa sinasabi ko ngayon na freedom, ay gusto kong mag-try ng iba't-ibang klase na hindi ko pa nagagawa. Pero sa ngayon na may kontrata pa ako sa GMA, ayaw ko po muna magsalita," she said.

Asked which network she prefers to transfer to, should the opportunity arise, Rivera said, "Sa August po, magkita-kita tayo kung saan ako pupunta."

source: www.abs-cbnnews.com

RANDOM WALKER | How much GMA7 is worth (with eyes wide open)

“If there is an offer of P100 billion, I will sign with my eyes closed,” GMA Network Inc. chairman Felipe Gozon reportedly told a press briefing last May in response to queries on buyout offers to the controlling shareholders of the media company. This amount would be “enough” for the company’s three major shareholders and the minority owners that bought in the stock exchange, he further stated.

More recently, reports have it that Mediaquest Holdings Inc., the media arm of the Beneficial Trust Fund of Philippine Long Distance Telephone Co., both led by Manuel V. Pangilinan have made an offer worth P52.5 billion in terms of enterprise value, which is the sum of the market values of common and preferred shares as well as debt. GMA7 has no debt but has 7.5 million preferred shares with par value of P0.20 each, all of which are owned by the three families that comprise the controlling bloc in the company.

(Editor's Note: Pangilinan is also chairman of TV5, for which InterAksyon.com is the online news portal.)

A very wide ocean separates the two valuations, obviously, but the tide towards a deal appears to be flowing towards the much lower boundary. Why? Surely, the normal course of any haggling would be to split the difference, which would settle the GMA7 matter at around P76 billion, right?

Acquiring an entire company lock-stock-and-barrel can be a bit more complicated than purchasing a pre-owned automobile. When a company buys another company, it can be a major multi-billion-peso investment decision that is made under great uncertainty. A lot of information and factors go into the decision, including the growth prospects of the company and the industry it operates in, its cash flows, the prevailing cost of money, the extra benefits or synergies that can be generated from the deal, the choice of accounting, as well as tax and legal effects, and so on. In the final analysis, the rule is this: the target company should be acquired if its overall future cash flows exceeds the purchase price, i.e., it generates a positive net present value to the shareholders of the acquiring firm. That is very difficult to do in most cases.

The market, as well as GMA7’s underwriters during its initial public offering, apparently had it mostly wrong. This is apparent when one looks at GMA7’s post-IPO share price performance prior to the current takeover excitement in the market.

GMA7 was first offered to the public at P8.50 per share in July 2007. Except for at the start of February this year, GMA7 has consistently traded below its IPO price. Even at the recent close of P10.30 per share, the stock has returned a measly 3.9 percent per annum, on a compounded basis, versus the overall local market’s annual return of 8.3 percent over the same period.

At the IPO price, the company was valued at roughly P41 billion (including the preferreds), at which the three controlling families happily sold P6.2 billion of their own holdings. This accounted for 80 percent of the IPO proceeds of P7.76 billion. The company currently has a market value of P34.6 billion.

The company’s principal shareholders are the three families led respectively by Gilberto M. Duavit, Felipe L. Gozon, and Menardo R. Jimenez. Each family, post-IPO, holds 28.35 percent, 24.21 percent and 28.29 percent, respectively, of the company’s share capital, including preferred shares. Altogether, the three families own 80 percent of GMA7.

The preferred shares are convertible at the option of the shareholders at the ratio of five preferred shares to one common share, based on par value, according to the company’s disclosures. However, the board “may specify other terms and conditions, qualifications, restrictions and privileges of the preferred shares or series/classes thereof, insofar as such terms, conditions, qualifications, restrictions and privileges are not inconsistent with the articles of incorporation and any applicable law or regulation.” According to media reports, the preferred shares have greater voting power and are convertible at the rate of one preferred to one common. For valuation purposes, therefore, the preferred shares may be treated like a common share.

The next question to ask would be: what accounts for the underperformance of not only GMA7 but also of its main rival, ABS-CBN Broadcasting?

A number of things. One is the maturity of the so-called “old media” industry where both companies belong. When an industry reaches maturity or old age, its average sales growth approaches the growth rate of the economy and may even go below it. The country’s gross domestic product, in current value terms, grows an average 10 to 12 percent. GMA7’s top-line growth, in comparison, has averaged less than 5 percent and, during election years, does not exceed 10 percent.

More tellingly, in the first quarter of this year, GMA7 net revenues declined 5 percent, while the country’s GDP grew over 6 percent, in real terms. Its corresponding net income plunged 27 percent.

Not only is the “old media” neck of the woods at its elderly growth pace, the competitive struggles within this industry has become rough and tumble. As GMA7 stated in its annual disclosure: “The company currently competes for audiences and advertising revenues directly with other broadcast stations, radio stations, newspapers, magazines, cable television, and outdoor advertising within their respective markets.” The revitalization of TV5, a direct competitor helmed by would-be buyer Pangilinan, effectively intensified the industry infighting for a piece of a stagnant-growth or shrinking advertising revenue pie.

Why would anyone buy into this unattractive industry and company? Happily for GMA7 shareholders, there are a number of positive things going for their company. These include a leading position in the industry, clean books with no debt whatsoever, and no need for heavy capital expenditures, which means zero retention of earnings that are wholly paid to shareholders each year. Taken all together, these factors mean one thing: lots of cash flow.

The company consistently throws off approximately P2.2 billion in free cash flow each year. Free cash flow, which is much-beloved by would-be takeover artists, refers to the cash flow that remains after the company has set aside the necessary funds for operating working capital, capital expenditures, and debt payments. The cash flow that remains is “free” to be deployed by management as they wish.

This free cash flow, then, needs to be valued using the discounted cash flow techniques employed by equity analysts. Using the long 25-year bond rate as part of the discounting rate and a high equity risk premium of 8.9 percent, the company’s free cash flows would be valued at P24 billion, much less than the current value of the firm and well below the Pangilinan offer price of P52 billion.

This is where some financial engineering comes in. Since GMA7 carries no debt, the cost of its capital rests solely on the cost of equity, which is the more expensive kind due to its additional risks. One potential source of synergy is to be able to lower the cost of borrowing for the combined companies. In the case of GMA7, if its new owners were to restructure its capital to 60:40 in favor of debt (borrowing at prime rate at 5.5 percent), then the overall cost of capital would fall to around 9 percent from the previous 14.5 percent. The resulting value of GMA7 would then become P54 billion, or about P16 per share (issued shares of 3.364 billion).

So, P50 to P55 billion it is.

But that is only the start. Pangilinan will need to shell out this amount but, afterwards, has to create synergistic values that surpass it. Otherwise, he and his shareholders would be better off doing nothing, staying at home and just watching the telly.

The potential sources of these synergies, aside from the unused borrowing capacity, would include marketing gains from a wide distribution network, a strategic beachhead in the new media as a result of this broader network, cost reductions due to economies of scale and complementary resources, and lower cost of capital for the group.

Take for example one source of synergy: economies of scale and complementary resources. It may be seen that while revenues have been weak and even sliding, the talent fees paid by the industry have been rising strongly due to the stiff competition for the limited number of bankable talents in the industry. With control of two channels, Pangilinan would have gained the upper hand in negotiating for talent fees.

In the end, Pangilinan has steadfastly adhered to his long-time strategy based on his belief in technology, media and telecommunications convergence, which foretells that one day everyone would be getting their news and information, be entertained, watch shows and movies, call, talk and send messages to people, and a host other things from one device. TMT convergence is seen to create new product categories, new markets, and even change the structure of existing industries. This convergence trend, according to experts, is being driven by these underlying trends: the proliferation of digital data, widespread connectivity, and continuous advances in technology.

source: interaksyon.com

Isabel Oli on her love life: 'Mas okay pa ang single'

“Wala, wala e… dyusko, Lord! Mas okay pa ang single."

Ito ang sagot ni Isabel Oli nang kumustahin ng PEP.ph (Philippine Entertainment Portal) ang kanyang lovelife sa presscon ng GMA-7 afternoon soap na Faithfully noong Lunes, June 11.

Sabi ng aktres, walang nanliligaw sa kanya ngayon.

“Wala din, wala, wala talaga."

JAMES YAP. Paano niya na-handle at finally ay natapos ang isyu sa kanila ni James Yap? There was a time na na-link sila ng dating mister ni Kris Aquino.

“Wala, deadma lang. ‘Pag may sinasabi sila, ‘Bahala kayo.’ ‘Pag may party, ‘Let’s go to the party!’"

Hindi pa rin alam ni Isabel kung bakit sila na-link ng basketbolista.

“Friends kami, oo friends talaga."

MARCO ALCARAZ. Magkaibigan din daw sila ng ex-boyfriend niyang si Marco Alcaraz, na ikakasal na kay Precious Lara Quigaman sa July.

“Oo nga, e. I’m so happy for him," sabi ni Isabel tungkol sa dating kasintahan.

A-attend ba si Isabel sa wedding?

“Hindi ko alam, hindi... wala naman akong invitation, e!" tawa niya.

Dati pa raw niyang alam na ikakasal na ang dalawa.

“Alam ko yun, e. Kasi, kailan ba yun, party ng anak ni Valerie [Concepcion], 'tapos nag-usap kami kaya alam ko."

Nandun si Lara sa party?

“Nandun, nandun din siya."

Dati na raw silang magkakilala ni Lara.

Kahit nung nagkaroon ng relasyon sina Marco at Lara ay nakikita raw niya ang mga ito.

“Oo, ilang beses na kaming nagkikita sa mga events."

Kaya with all sincerity ay masasabi ni Isabel na masaya siya para sa dalawa.

“Sobra, sobrang happy, as in sobra kasi sobrang good friends kami ni Marco."

Ano ang wish ni Isabel para sa dalawa?

“Ay naku, ayan, di ba, finally! Sana, sana si God yung center sa relationship nila lagi.

“And kung may konting tampuhan or whatever, maaayos yun sa usapan lang."

WHAT ABOUT ISABEL? Hindi ba siya naiinggit?

“Hindi! Oh, my God, hindi talaga."

Wala pa ba sa isip niya ang mag-asawa?

“No! Ayoko."

Ni wala nga raw siyang suitors.

“Hindi rin siguro ako nag-e-entertain kaya siguro ganun."

Gaano katagal na siyang walang boyfriend?

“Seven months."

Her last relationship was with Gab Valenciano.

Magkaibigan ba sila ni Gab?

“We’re not enemies, pero hindi rin kami friends.

“Walang communication, pero hindi rin kami enemies."

Faithful ba si Isabel?

“Sobra akong faithful. Sa relationship, sa boyfriend, never akong nagloko."

So, ang mga guys ba ang nagiging unfaithful sa kanya kaya nagwakas ang mga relationships niya in the past?

“Hindi ko sinabi!

“Hindi lang siguro nag-work out… pero ewan ko sa kanila!" natatawang sagot ni Isabel. -- Rommel Gonzales, PEP

source: gmanetwork.com

John 'Sweet' Lapus not thinking of leaving GMA-7

Matutupad na ang plano ni John Lapus na magkaroon ng dalawang title-role movie sa taong ito.

Sa recent meetings nito with Viva Films, pinag-usapan ang kanyang magiging follow-up movie pagkatapos ng box-office success ng Moron 5 and the Crying Lady, kung saan ginampanan niya ang role bilang Crying lady.

“Magmi-meeting pa kami next week for my second movie sa Viva Films," ang masayang ibinalita ni John sa PEP.ph (Philippine Entertainment Portal) sa press launch ng bago niyang serye sa GMA-7, ang Makapiling Kang Muli, na pinagbibidahan nina Richard Gutierrez, Carla Abellana, Sarah Lahbati, Mark Anthony Fernandez, Phillip Salvador, Mark Gil, at Ms. Gloria Romero.

Sa pagpapatuloy ni John, “Ito yung second movie sa dalawang movie contract na pinirmahan ko sa Viva.

“Meron na akong ideya more or less ng story line pero sa meeting pa lang namin mapa-finalize.

"Nandun na yung magiging director, yung writer, at saka nandoon na si Boss Vic."

Hindi pa raw sure si John kung si Wenn Deramas, na direktor din ng Moron 5, ang siya ring magdi-direk ng second movie ni Sweet (palayaw ng komedyante).

“Ipi-present pa lang sa akin next week yung story line. Come to think of it, hindi ko pa pala talaga alam kung sino ang director."

PROJECT WITH REGAL? Samantala, malaking palaisipan naman para sa kanya kung bakit makaka-dalawang movie project na siya sa Viva Films pero tila wala pang plano ang Regal Films sa kanya.

Matatandaang nagpahayag pa noon si Mother Lily Monteverde na bibigyan ng title-role movie ang komedyante, pero hindi pa ito naisasakatuparan.

“Ano bang nangyari?" ang naguguluhang tanong ni John sa sarili. “Sinabi ni Mother verbally, nag-antay naman ako, di ba?

"Wala namang dumating, so, ano ba?

"One day isang araw, tinawagan ako ng Viva to sign a non-exclusive contract, two picture lang naman.

“So, masisisi mo ba ako na maganda ang offer?

"And in all fairness na alam ni Mother Lily 'yan na ako at ang Star Magic [talent agency na humahawak sa career ni John] bago kami nag-sign... siya ang una naming kinausap na, 'Pasensya na mother, 'eto magbibigay...'"

Pero wala naman daw siyang panghihinayang sa ginawa niyang hakbang para sa kanyang career.

Aniya, “Wala naman, kasi naging successful naman yung una, yun nga yung Moron 5, so, wala naman.

"As a matter of fact, naging maganda naman kasi naisip na marahil ni Mother Lily na puwede na niya akong bigyan eventually.

"In all fairness naman, I always say it’s still Mother Lily who gave me the first through Super Inday and the Golden Bibe, di ba? Lead din naman ako doon as the Golden Bibe.

“Pero yung solo na lead na, in fairness naman kay Mother Lily, siya naman talaga yung unang nag-announce na balita na she will give in the future. Hindi nga lang natupad.

"At this point, mauuna nga yung Viva.

"Kasi yun nga ang promise nila sa akin na after na maging successful yung Crying Lady, na yung pangalawa ko this time ako naman yung lead."

PLAYING SUPPORT IN REGAL. Hindi pa masagot ni John kung pipirma siya uli ng panibagong kontrata sa Viva kung sakaling alukin siya ng panibagong contract.

“Tignan natin kasi nangako ako kay Mother Lily. Mukhang babalikan ko si Mother. Nag-uusap naman kami. Ang ina-ano niya sa akin, dapat gagawa pa rin daw ako sa kanya.

"Naka-stipulate naman sa contract ko yun na basta hindi lead kasi yung two picture ko sa Viva, parehong lead, e.

"Puwede pa naman akong gumawa ng support role sa mga pelikula ni Mother Lily na ginawa ko naman via The Mommy Returns."

Wala bang kaso sa kanya ng support roles ang ginagawa niya sa Regal pero lead roles naman sa Viva?

“Okay lang naman. Sino ba yung kausap ko?

"Kami ni Uge [Eugene Domingo] kasi, once na linimit namin ang sarili namin na once na kumita ang movie namin or nag-box office hit, kailangan dapat bida kami uli, baka damputin kami sa pansitan.

"At the end of the day, mga artista kami ni Uge, hindi naman...

"Again, pinag-uusapan nga namin, kinu-consider namin ang sarili namin na actors rather than big stars. Parang trabaho....

"Na-imagine mo na... sino ba naman ang magbibigay kay John Lapus na every year ako ang bida?

"Di ba parang... iba pa rin yung tumatanggap ng trabaho kahit hindi ikaw ang bida."

GAY POWER. Consistent si John sa pagsasabing si Vice Ganda ang nagbukas ng pintuan para sa mga gay characters na nagbida sa pelikula.

Paliwanag niya, “Naging malaking factor na si Vice ang openly gay na nagbida sa isang pelikula via Petrang Kabayo na kumita at nag-follow up ng Private Benjamin, na considered na highest grossing Pinoy films.

"Nagkaroon ng ideya ngayon ang ibang production company for that matter na, 'Ay, puwede na pala ang bakla ngayon?' Ayan si John Lapus, nagkaroon rin ng kontrata.

"Kaya nga kapag pinagku-compete kami ni Vice, natatawa na lang ako dahil on the contrary, ipinagdadasal ko nga na mas tumagumpay pa, mas maraming offers, mas maraming pelikula si Vice, maraming endorsements .

"Kasi inevitably, pag marami siyang pelikula at offers, sa akin mapupunta pag sobrang busy na niya, wala naman silang choice kundi sa akin i-offer. Wala namang problema."

Gustuhin man ni John na magkaroon sila ni Vice ng project, wala pa raw offer.

Ang sabi ng Showbiz Central host, “Wala pa. Wala namang nababanggit sa akin in the future. I would love to do that."

Kung sakali man, sino sa palagay niya ang dapat mauna sa kanila ni Vice sa billing?

Matamang nag-isip muna si John bago nagsalita.

“Oh, my god!" bulalas muna niya.

“Nag-iisip ako ngayon ng mga pelikulang nauna na... Ah, seniority 'ata ang mauuna.

"Mukhang ako pero naka-'and' siya."

Ang tinutukoy ni John ay ang madalas na practice sa showbiz na kung hindi man sa star value, dinadaan sa seniority or alphabetical order ang pangalan ng main cast.

Either way, "Ako pa rin ang mauuna," ang sambit ni John, “pero definitely, naka-'and' si Vice Ganda."

At saka niya dinugtong, "Kahit sino..."

Nagkasama na rin naman sila ni Vice sa isang project.

“Nag-guest ako sa kanya sa Petrang Kabayo, di ba? Walang problema."

BACK TO PRIMETIME. Samantala, itinuturing ni John na comeback series niya ang Makapiling Kang Muli.

Matagal din siyang 'di nabigyan ng proyekto.

“Ang tagal ko ngang nabakante, e. Two years ago na pala yung Pilyang Kerubin," ang sabi ni Sweet.

Pero meron din naman siyang Showbiz Central at ang mga nakaraan niyang show na Show me da Manny.

“Pero ang tagal rin naman nung sitcom namin, yun nga, sana lang...

"Wala naman akong balak lumipat for as long as bigyan lang nila ako ng trabaho. Kasi naba-bother sila kapag naggi-guest ako sa ibang network.

"Sinasabi ko naman sa kanila na kaya ako naggi-guest sa ibang network, trabaho lang. Nagbabayad ako ng bahay, sayang naman yung offer.

“Sinabi ko naman sa kanila nung tatlo ang show na meron akong Show Me da Manny, Showbiz Central, at sunud-sunod akong merong soap opera, hindi naman ako nakita sa ibang station.

"So, sinasabi naman namin sa GMA through my manager Ricky Gallardo na bigyan naman kami ng trabaho [dahil] hindi naman kami nakikita sa ibang network," ang mahabang eksplika niya.

Itinanggi ni John ang bali-balitang inaalok siya uli ng kontrata ng ABS-CBN.

“Wala pa naman. But, with my relationship status naman sa ABS, feeling ko naman I could come back any time.

"Mga kaibigan ko naman ang nandun at hindi naman tayo nagsunog ng tulay.

"But you know, nandun naman na si Vice... 'tsaka na siguro, oo...

"Hindi ko pa iniisip at hindi ko kinu-kunsider. So far sabi mo nga, mahal pa ako ng GMA. Yun lang naman yun. At least maganda yun at klaro naman sa kanila yun. Klaro ko rin sarili ko... Noon kasi, napa-praning ako.

“By now, I’m pretty sure na hindi na ako mawawalan ng trabaho. I’m pretty sure na kapag nakita ng ibang network na tengga ako, kukunin nila ako.

"Sabi ko, 'Trabaho lang.' Oo naman, tatanggapin ko.

"Yun lang naman ang sinasabi ko sa kanila na, 'For as long as meron akong trabaho, hindi ko kayo iiwan.'

"Ngayon, hindi naman exclusive ang contract ko sa GMA pero hindi naman ako umaalis," ang pagtatapos ng host-comedian. -- Rey Pumaloy, PEP

source:gmanetwork.com

Rufa Mae leaving GMA after quitting 'Showbiz Central'?

MANILA, Philippines - Rufa Mae Quinto surprised her fans and colleagues when she suddenly quit her talk show “Showbiz Central” on Sunday. Speculations are rife that she is planning to leave GMA altogether.

“After her contract with GMA expires at the end of April, she will keep her options open as to what network she will join next,” her manager, Veronique del Rosario of Viva Artist Agency, told Interaksyon.com on Monday.

Rufa Mae announced her departure from “Showbiz Central” with this tweet on Sunday morning: “By the way, to all my followers, I wanna say goodbye and thank you sa lahat ng natuwa at nanood sa Showbiz Central. Ako po’y magpapaalam na, huling linggo ko.”

That afternoon, she faced her co-hosts John Lapus, Pia Guanio and Raymond Gutierrez, and confirmed her decision to leave the show two weeks before its fifth anniversary.

The comedienne called it a career move, which she arrived upon after consulting with Veronique and Viva chief executive officer Vic del Rosario on Friday.

She also said she suddenly felt the need to make Sunday a rest day after 11 straight years of working on Sundays.

Before she joined “Showbiz Central,” Rufa Mae had been a mainstay for six years on “SOP,” GMA’s Sunday variety show before it was replaced by “Party Pilipinas.”

When asked by Raymond pointblank if her abrupt departure is a prelude to her transfer to another network, she was candid about keeping her options open.

“I’m not closing naman my doors. Siyempre di ba bilang artista, gusto mo rin namang makipagtrabaho sa iba’t ibang artista,” she replied.

While negotiating her television contract, Viva will keep Rufa Mae busy with her film projects. “In the meantime,” Veronique said, “she will concentrate her acting and producing efforts on movies since comedies are in vogue again.”

In a subsequent tweet, the comedienne referred to her upcoming movie, “Okay lang, mga friends. Mapapanood n’yo pa rin ako sa ‘Ride to Love.’”

Rufa Mae also told her co-hosts that she would attend the 5th anniversary showoff “Showbiz Central” on April 29 if she would be invited.

She admitted that she had even considered not showing up for work last Sunday, but she realized it would have been disrespectful to her colleagues if she did not bid them a proper goodbye.

source: interaksyon.com

Wilma Galvante bids GMA-7 goodbye

MANILA, Philippines – After 19 years of service to the Kapuso network, Wilma Galvante has "officially retired" from her post as senior vice president for entertainment TV.

In a statement recently released by GMA-7, Galvante is nothing short of proud and grateful "for the opportunity of having worked with [everyone in the network] through all the years." She also wished for GMA-7's continuous success.

Galvante’s retirement took effect on Feb. 24, according to another statement the network has sent to the stock exchange.

GMA-7 chairman and CEO Felipe Gozon expressed his gratitude for Galvante’s loyalty and contributions to the network, especially through the hit entertainment programs produced under her management.

Stepping in as officer-in-charge for the entertainment group is Lilybeth Rasonable, vice-president for drama, who has been with GMA-7 for four years now. Prior, she has served as program manager and assistant vice-president for the group.

Legacy

Galvante may well bid the industry goodbye with her head held high considering that her contributions to the network have caused dramatic shifts in local entertainment. She was the brains behind the pioneering talent search “Bagong Kampeon” in 1981. This was, in a way, revived in the 2000’s with “StarStruck,” which produced the likes of Jennylyn Mercado and Mark Herras.

Galvante also has, to her credit, the introduction of fantasy series on primetime television via “Mulawin” in 2004, as well as the resurgence of Filipino comics on the boob tube (“Darna” in 2005; “Captain Barbel” in 2006). Galvante likewise produced “Celebrity Duets: Philippine Edition.”

Issues

The influential Kapuso exec, however, also got enmeshed in messy controversies and legal disputes particularly with talent manager Annabelle Rama. This is believed to have rooted from intrigues such as Rama’s talents' alleged refusal of project offers from the network, her purported “bribes” to remain in Galvante’s favor, as well as the heated exchanges between them.

Their row eventually escalated into a legal battle in 2009, with Galvante filing a P7-M damage suit and a temporary restraining order (TRO) against Rama, while the latter attempted to get more than even with the former by charging her with a P25-M lawsuit and a grave slander case for allegedly badmouthing Rama to her talents.

The next step

With Galvante officially out of GMA-7, speculations abound as to her future endeavors. Rumor has it that one of GMA-7’s rival networks, TV5, might offer her a significant post in their management.

source: mb.com.ph

Grace Lee: PNoy courts 'like any normal guy'

MANILA, Philippines – Following President Noynoy Aquino’s admission that they are dating, TV and radio personality Grace Lee has become more open in disclosing some details about their burgeoning bond.

Despite holding the highest post in the country, PNoy’s courtship style remains “normal,” according to the Philippines-based Korean.

“I don’t know about calling everyday, I don’t wanna divulge too much details, pero yes very normal, like any normal guy,” Grace said in an interview on “24 Oras,” Feb. 2.

She has also received “a couple of chocolates and flowers” from the chief executive.

“He’s just very sweet,” Grace added.

Although she’s been part of the entertainment industry for some years now, Grace is still surprised by the outpour of attention she’s receiving. Reporters and photographers of international wire agencies, such as Agence-France Presse, were seen tailing her on Thursday, “24 Oras” stated.

It took a while for the GMA-7 showbiz reporter to speak up about PNoy because she “wanted this to be more private.”

“We’re still at the stage of getting to know each other. And I didn’t want so many people having so much to say about what’s going on between us... I don’t think I’m gonna waste my time, spending hours of my day trying to know a man if I was not interested at all,” she related.

She may have evaded the question about PNoy’s chances on winning her heart, but Grace generously attached positive adjectives to him. At one point, she said, “He is a wonderful person…”

Grace did not reveal when she and PNoy began dating. It can be recalled though that their paths first crossed June last year at the inauguration of Korea Electric Power Corp. power plant in Cebu. She hosted the said event.

The 29-year-old DJ had a closer, longer encounter with the president before Christmas through an interview they did for her radio program. According to “24 Oras,” their conversation ranged from serious topics like his visions for the country, to lighter ones such as his taste in music.

“He’s brilliant, he is the most intelligent man I’ve met in my life,” Grace enthused.

She appreciates that PNoy admitted that they are “seeing each other.”

"He’s such a gentleman. When he acknowledged it, I think that was out of respect for me because he doesn’t need this… but he did and that tells you a lot about what kind of man he is.

“He’s such an inspiring character,” Grace said in a separate interview with “TV Patrol,” adding, “To be liked by a man who leads a country is very flattering.”

While things are looking up for the two, Grace, as well as her family, are “worried… on the public attention.”

“I just didn’t think it was gonna happen this fast,” she said.

She also got concerned about their racial difference. Nevertheless, “it’s the reason why I fell in love with the Philippines in the first place, so accepting and so understanding.”

Grace merely laughed off speculations that PNoy has already proposed to her.

“We are starting so sana everyone would give us time and space to get to know each other more,” she said.

Reporter Mario Dumaual then told Grace, “love knows no age gap or age differences.”

“At least whatever we have right now will serve as an inspiration to a lot of people out there. But aside from that, I would like to believe so as well,” she said with a smile.

For PNoy’s 52nd birthday on Feb. 8, Grace said, “What can you give the President, right? It’s so difficult. But I’m brewing something up. Surprise na lang.”

“You can give your love,” Mario teased her.

Laughing, she responded, “Oo nga eh, puwede rin.”

Her manager, Arnold Vegafria, deemed that the recent turn of events marks a big change for Grace.

“But the most important dapat, guard your heart,” he pointed out on “24 Oras.”

source: mb.com.ph

Jhake Vargas on possibility of falling for Bea Binene in real life

Gaya ni Bea Binene—na siyang title role sa bago nilang afternoon series na Alice Bungisngis And Her Wonder Walis—masayang-masaya rin daw si Jhake Vargas sa bagong tiwalang ibinigay ng GMA-7 sa loveteam nila.

Ito ang sinabi ni Jhake sa panayam sa kanya ng PEP.ph (Philippine Entertainment Portal) sa press conference ng Alice Bungisngis and Her Wonder Walis, sa Studio 7 ng GMA Network Center noong January 31.

"Masaya kami. Proud kami sa sarili namin. Kami pa rin ang magkasama ni Bea.

"Hindi kami pinaghihiwalay. So, talagang masaya at hindi kami nawawalan ng project.

"Nagpapasalamat kami sa GMA na palaging sumusuporta sa amin, sa lahat ng ginagawa namin," saad ng young actor.

FEELING THE PRESSURE? May pressure ba siyang nararamdaman na sila ni Bea ang bida sa kanilang bagong serye?

Ayon kay Jhake, "Wala naman pong... well, mero'n konting pressure.

"Pero para sa akin, confident kami. At saka proud kami na may bagong project. Maganda ang pasok sa amin ng 2012."

JUST FRIENDS? Mabilis naman ang naging pagtanggi ni Jhake nang tanungin kung posible bang mauwi sa totohanan ang loveteam nila ni Bea.

Aniya, "Hindi po, close friends po kami ni Bea."

Nagsasalita na siya nang patapos na hindi magiging sila ni Bea?

"Hindi naman po. Pero trabaho kami ni Bea, trabaho po kami," sagot ng binata.

MISSING HIS MOM. Bigla namang nalungkot si Jhake nang matanong ng press ang kapareha niyang si Bea tungkol sa ama nito na umalis ng kanilang bahay at hindi pa bumabalik hanggang ngayon.

Magkatabi lang kasi sina Jhake at Bea habang iniinterbyu ng press kaya narinig ng binata ang tanong sa kapareha.

Naalala tuloy ni Jhake ang kanyang ina na sumakabilang-buhay noong isang taon dahil sa cancer.

Hindi na raw kasi mapapanood ng kanyang ina ang Alice Bungisngis kaya siya nalungkot.

"Opo, hindi naman po mawawala yun. Masyado pang hinog, masyado pang fresh para sa akin," sabi ni Jhake. -- Rose Garcia, PEP

source:gmanetwork.com

The Best of 'Kapuso Mo, Jessica Soho' on December 31

This Christmas and New Year’s Eve, join Jessica Soho as she recounts the year that was in The Best of Kapuso Mo, Jessica Soho 2011.

Soho sums up the year as she looks back on some of the most interesting fads and most hilarious stories of 2011. Have a second serving of the most sumptuous dishes of the year and witness once more some of the world’s biggest events in 2011 such as the Royal Wedding and the Beatification of the world’s most beloved pope, Pope John Paul II.

These and more in a two-part yearend special of The Best of Kapuso Mo, Jessica Soho 2011 on December 24, 8:15 p.m. and December 31 in an earlier timeslot of 7:15 p.m on GMA-7.

source:gmanetwork.com