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PLDT finally buys into Level Up Games

From INQ7:
ePLDT buys majority stake in Level-Up! Philippines

“Yes we have bought 60 percent of the company,” said Ray Espinosa, president and chief executive officer of ePLDT, an information and communications technology arm of the Philippine Long Distance Telephone Co. with its own gaming outfit, Netgames.

This buy-in was previously rumored upon in July 2005, but was denied by the company

Will they now go for local programming and content?

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  • Finally, Level Up can’t make any more denials. 😛

  • Do you have insider info?

  • they bought because netgames isnt doing any good?

  • netGames employees have been calling Level Up their “sister company” for months.

  • Come to think of it, ePLDT said “we have bought” … they did not say “when” they did the buying. It looks like they put off the announcement until the time was right.

    But isn’t PLDT a public company, required to disclose these?

  • Maybe, but Level Up denied it first.

  • Nice article from Joey Alarilla of INQ7: ePLDT creating a gaming monopoly?

  • netGames was actually doing very well before the merger. In terms of strategy it was very good for e-PLDT to just merge both companies. RIght now Level-up is working towards the hybrid and item selling business models which netGames already has experts on (due to flyff, pangya, khan).