FALSE

A Facebook video used an old report of a 2007 petition by Sen. Imee Marcos, which claimed the Marcos family owned a third of GMA Network, Inc.  

Uploaded on May 24, the video posted by the FB page Exile Philippines (created last May 7) bore the text: “Wooow may shares pala ang mga marcos sa GMA. 30 YEARS NA NKLIPAS ILAN KYA ANG TUBO NOON [sic] (Wow, the Marcoses have shares in GMA. It’s been 30 years, how much could it have earned).”

The claim is false. “Those Duavit shares were acquired by them (Duavits) as early as September 1974 or thirty-three years now. They have been in possession of those shares for that long period of time,” Gener Asuncion, then the legal counsel of the broadcast network, said in a 2008 GMA news report.

The same news report said the Securities and Exchange Commission (SEC) confirmed no pending case impugning the ownership of the shares in question was filed in court by Marcos against the Duavits.

Read the full story on VERA Files Fact Check.

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VERA Files is a nonstock, nonprofit independent media organization registered with the Securities and Exchange Commission (Company Registration No. CN200808072). Founded in March 2008, it is published by veteran Filipino journalists taking a deeper look into current Philippine issues. Vera is Latin for “true.”

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