House Speaker Martin Romualdez's holding firm, Prime Media, says it 'recognizes the power of radio...due to its wide reach, affordability, and accessibility.'
In what appears to be an assurance to lawmakers, Manalo also said on Monday that PCMC is an “independent organization,” and that ABS-CBN “will not be involved in Prime’s or PCMC’s operations.”
Rappler reported last week about the expansion of Prime Media’s broadcast footprint after Congress amended the franchise of its subsidiary, Philippine Collective Media Corporation, in December 2020 or justInfographic shows the growth of House Speaker Ferdinand Martin Romualdez’s Favorite Music Radio stations from 2008 to 2023. Most the new stations were established after Congress amended in December 2020 the Philippine Collective Media Corporation’s franchise from regional to national.
PCMC’s president is the current House deputy secretary-general, Sofonias Gabonada Jr., known as an aide of the. Gabonada was also a campaign officer of the Uniteam tandem of Marcos and then-Davao mayor Sara Duterte. Prime Media had been a long-dormant holding company with plans to invest in media and other businesses, but it became active in the bourse after ABS-CBN lost its franchise in 2020. It is a subsidiary of RYM Business Management Corporation, a private holding company of Romualdez.
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