GMA Network Inc., which is GMA 7 or Channel 7 for short, was the first choice of Manuel V. Pangilinan, the chairman of PLDT group, when a few years ago he made known his interest in buying a TV station using Mediaquest Holdings Inc., the beneficial trust fund of Philippine Long Distance Telephone Co. He failed in his initial bid to acquire Channel 7, because the majority owners of GMA Network were not selling.
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