PSE suspends ABSCBN trading, GMA7 shares surge

PSE suspends ABSCBN trading, GMA7 shares surge

ABS-CBN network headquarters in Quezon City (Photo by Maria TAN / AFP) Shares of GMA Network sizzled in morning trade after the Philippine Stock Exchange suspended trading on shares of shuttered broadcasting giant ABSCBN Corp. on Monday after the Congressional committee on legislative franchises denied its application for a new franchise. GMA7 shares were up […]
GMA7 shares up 24% after ABSCBN’s shutdown

GMA7 shares up 24% after ABSCBN’s shutdown

Shares of broadcasting giant GMA Network Inc. surged by 23.69 percent at the local stock market on Wednesday on expectations that its share of local advertising revenues will balloon while rival ABSCBN Corp. is off the air. At its closing price of P5.90 per share on...