MANILA – Philippine broadcaster GMA has formed a joint venture with an information technology company to offer Internet on-line games, officials of both companies announced yesterday.

The 50-50 joint venture between GMA, the country's second largest broadcaster and Intellectual Property Ventures Group is called I-Play and will have capitalization of P800 million ($19.8 million).

I-Play will offer Internet games mainly to Filipinos and will make money from advertising on the games and from sales of the products on the Internet gaming portal, I-Play chief executive officer Enrique Gonzalez said.

Gonzalez estimated that there are four million Filipinos who are into Internet gaming.

GMA chairman Felipe Gozon said their network had entered into the partnership in order to remain relevant in the 21st century.*AFP

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