History BusinessWorld

1 history

1.1 business day
1.2 businessworld
1.3 mvp group acquisition

history

front page of businessworld, july 27, 1987


business day

raúl locsin, reporter business section of now-defunct manila chronicle, took out ₱5,000 loan start business day, paper s forerunner.

business day released debut issue on february 27, 1967. first business daily in southeast asia, , dedicated “competent , responsible reporting of news.”

on march 1, 1971, business day published record of previous year’s highest-grossing philippine firms. 8 years later, securities , exchange commission , business day launched 1000 top corporations in philippines gazette. effort laid foundation known businessworld top 1000 corporations in philippines, annual magazine provides readers corporate financial data.

business day survived martial law period, partly due president ferdinand marcos allowing paper run because did not cover politics, move calculated give veneer of press freedom authoritarian regime.

after 1986 people power revolution, paper closed on june 5, 1987, due labour strike. employees did not join strike regrouped locsin set current businessworld publishing corporation.

businessworld

the first copy of businessworld sold on july 27, 1987. in same year, businessworld became first among local dailies use desktop publishing, , in 1991 incorporated world press, inc., owned printing subsidiary of firm located in antipolo, rizal.

world press, started five-unit web offset printing press, had 9 units 1995. in 2 years, able own pre-press facilities allowed color electronic pagination system, made businessworld country’s first newspaper printed in full color.

previously housed in ortigas center, pasig city, businessworld moved current location in new manila, quezon city in 1994. building designed locsin’s cousin, late national artist architecture leandro v. locsin, worked on philippine stock exchange plaza in makati city.

when locsin died in may 2003 after long-term illness, wife, executive editor , chief operating officer leticia locsin, took on paper s president, publisher, , chairperson until death in august 2005. daughter, barbara locsin, headed paper while, later succeeded anthony cuaycong chief operating officer.

mvp group acquisition

in 2004, philippine long distance telephone company (pldt), led businessman manuel v. pangilinan, acquired minority stake in businessworld through pldt s beneficial trust fund unit, mediaquest holdings, inc. in september 2013, mediaquest assumed control of paper, subsidiary hastings holdings inc. increasing stake 30% 76.67% , infusing ₱100 million company on next 12 months. smart communications, inc. co-founder , chief wireless advisor orlando vea named acting president. in march 2014, josé roberto roby a. alampay, head of philippine news portal , pldt subsidiary interaksyon.com , news5 anchor, appointed concurrent editor-in-chief of newspaper.

in july 2015, philippine star acquired entire 76.63% stake of sister broadsheet businessworld hastings holdings inc., subsidiary of star s parent, mediaquest. transaction done enhance role of philippine star leading , trusted news source in philippines , allow businessworld strengthened. philippine star president miguel g. belmonte named concurrent president of broadsheet.