Gokongwei-led Summit Media has taken full control of the entertainment portal PEP.ph and sports news platform SPIN.ph, concluding a 19-year joint venture partnership with broadcast giant GMA Network. Financial terms of the transaction were not disclosed.
The buyout consolidates both digital publications under a single owner, giving Summit complete operational control to invest, develop new products, and expand its digital entertainment business without sharing management with its former partner.
Founded over 30 years ago by Lisa Gokongwei-Cheng—daughter of the late taipan John Gokongwei Jr.—Summit Media has evolved from a traditional magazine publisher into one of the country’s leading digital media groups.
Reflecting on the acquisition, Summit Media President and CEO Howard Go highlighted the strong foundations built by the two platforms over the years in a statement on Wednesday, November 11:
“These brands have built something that cannot easily be replicated: credibility, audience relationships, and a deep understanding of Filipino popular culture,”
Philippine Entertainment Portal Inc. (PEP) was originally established as a 50-50 joint venture between Summit and GMA in April 2007, becoming a premier destination for celebrity news and entertainment before launching SPIN.ph in 2012.
Financial disclosures from GMA indicated that its share of PEP’s net losses stood at ₱3.96 million in 2025, following ₱1.56 million in 2024 and ₱10.34 million in 2023.
Looking ahead, Summit assured that both PEP.ph and SPIN.ph will maintain their distinct editorial identities and independent journalistic standards as the company explores growth opportunities beyond traditional news publishing.