TAPE Executives Accused of Misusing GMA Advertising Money
GMA vs. TAPE – Several officers of Television and Production Exponents, Inc. (TAPE) are facing a criminal complaint for estafa with abuse of confidence filed by GMA Network, Inc.
The case, filed before the Office of the City Prosecutor in Quezon City, accuses several TAPE executives of misusing advertising funds totaling ₱37,941,352.56. Named in the complaint are Romeo Jalosjos, Jr. (former President and CEO), Romeo Jalosjos, Sr. (Chairman), Bullet Jalosjos (Treasurer), Malou Choa-Fagar (former COO, now President and CEO), Michaela Magtoto (former Senior VP for Finance), and Zenaida Buenavista (Finance Consultant).
According to GMA, the issue stems from a 2023 Assignment Agreement between the two companies, which allowed TAPE to collect advertising revenues on GMA’s behalf. However, the funds were allegedly diverted to cover TAPE’s operational expenses instead of being remitted to GMA, violating the trust provisions of the agreement. Despite multiple formal requests, the funds were not turned over.
GMA Network is now seeking legal remedies to recover the full amount and hold those responsible accountable. The network emphasized its strong commitment to honesty, transparency, and trust in all its professional dealings.
Meanwhile, GMA Network, Inc. is one of the leading television networks in the Philippines. Established in 1950 and headquartered in Quezon City, it is widely known as the Kapuso Network. GMA operates multiple TV and radio stations nationwide, offering a wide variety of content such as news, entertainment, drama series, and public affairs. Among its most popular programs are 24 Oras, Kapuso Mo, Jessica Soho, and various hit teleseryes. For many years, GMA also served as the official broadcaster of the long-running noontime show Eat Bulaga!.
On the other hand, the Television and Production Exponents Inc. (TAPE Inc.) is a private production company in the Philippines, best known as the producer of Eat Bulaga!, the country’s longest-running noontime program. Founded in 1979, TAPE focuses on content creation and has historically partnered with major networks like GMA to air its shows. While the two companies worked together for decades, especially in airing Eat Bulaga!, they remain separate entities.