MediaQuest Holdings Inc., the mother company of TV5 — one of the Philippines’ three biggest TV networks — has terminated discussions to acquire a controlling interest in GMA Network Inc. (GMA7). In a disclosure by the Philippine Long Distance Telephone Company — owner of MediaQuest — the parties have been unable to arrive at mutually acceptable terms despite the continual discussions and efforts exerted in good faith. In recent reports, GMA7 chairman Felipe Gozon … [Read more...] about MediaQuest bid to acquire GMA7 falls through