GMA Rejects TAPE Inc.'s Settlement Offer Over ₱37.9M Airtime Debt

It looks like the legal battle between GMA Network and TAPE Inc. is far from over. A recent mediation meeting between the two parties failed to reach any kind of agreement, as GMA Network declined the settlement offer made by TAPE.

The issue started when GMA filed a criminal complaint for estafa against several officers of TAPE Inc., accusing them of misusing over ₱37.9 million in advertising funds. According to the network, these funds were supposed to be turned over under a 2023 Assignment Agreement, which gave GMA the rights to receive the revenues. Instead of sending the money as agreed, TAPE reportedly used it to cover its own operating expenses.

Despite repeated formal requests from GMA, the money was never handed over. Because of this, GMA claims TAPE violated a clear trust-based arrangement and committed estafa with abuse of confidence.

During the mediation, TAPE Inc. made an offer in hopes of settling the issue. However, the amount they proposed fell short of GMA's expectations, leading the network to reject it outright.

Since no agreement was reached, the case will now move forward and be assigned to a new prosecutor for further investigation. Things are definitely heating up, and we’ll likely hear more updates as this legal process continues to unfold.