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Bilyonaryo - Business

Just the beginning: Martin Romualdez lays groundwork to turn Prime Media into a viable corporation

  • December 5, 2022
  • Bilyonaryo.com

Bilyonaryo Martin Romualdez has set in motion a plan to convert dormant Prime Media Holdings into a full-fledged media outfit.

In a stock exchange filing, Prime Media said its parent company RYM Business Management Corp. and the majority shareholders of Golden Peregrine Holdings Inc. have proceeded with the execution of an amended memorandum of agreement (MOA).

The amended MOA, which was approved by the company’s board of directors in July 2021 and by its shareholders in September last year, will lead to the acquisition of Golden Peregrine as a direct subsidiary, and Philippine Collective Media Corp.(PCMC) as an indirect subsidiary.

PCMC holds a radio and television broadcasting franchise and is engaged in the active business for mass media.

Prime Media will acquire full ownership and control over PCMC through Golden Peregrine.

As part of the agreement, Golden Peregrine shareholders will also gain control and majority ownership of around 70 percent of the outstanding capital stock of Prime Media.

“The said transaction aims to usher the long-awaited transformation of the company into a viable and operational business entity and address its capital deficiency, negative equity, and non-operation,” Prime Media said.

  • Related News Tags: Martin Romualdez, Prime Media, viable corporation
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Bilyonaryo on CNN

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Veteran journalist Ces Drilon, with CNN Philippines President Benjamin V. Ramos, and officials of Prage Management Corp. sign a blocktime contract agreement for the airing of “Usapang Bilyonaryo” - a profile feature show starting January 16. -- CNN Philippines

What’s the plan? Cemex parent budgets P4.3 billion to bankroll P2 billion tender offer

The parent of Cemex Holdings Philippines (CHP) has allocated up to P4.3 billion or double its budget to buy back up to 10 percent of its shares held by the public.

SMC likely to bag P27B Cavite-Batangas expressway project

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Toledo sees revival of mining sector

The Chamber of Mines of the Philippines (COMP) is entering 2023 with renewed hope and optimism.

Upbeat on 2023 prospects: Sy-blings step up expansion in provinces

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Usapang Bilyonaryo by Ces Drilon

Usapang Bilyonaryo
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“Usapang Bilyonaryo” is a digital-first, hybrid magazine show hosted and produced by veteran broadcast journalist Ces Oreña-Drilon in cooperation with the Bilyonaryo.com team. The 30-minute TV cut airs on CNN Philippines at 8 PM every Monday, starting January 16. The full version or producer’s cut of each episode, as well as interview splices, will be posted on Bilyonaryo.com’s Youtube and Facebook accounts.

 

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Who’s Who at ART SG

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