Publisher Raul Locsin started BusinessDay in 1967 but due to a worker’s strike, he decide to close the paper in 1987. Few weeks after, he opened BusinessWorld with some of BusinessDay’s former employees contributing equity.
BusinessWorld publishes only on weekdays and, according to editor-in-chief Jose Roberto Alampay, has a daily circulation of 151,248. It went online in 1995, one of the first papers to do so.
BusinessWorld’s largest shareholder is Hastings Holdings, Inc., which also has majority shares in broadsheet Philippine Star, Pilipino Star Ngayon and philstar.com. Hastings Holdings is wholly owned by MediaQuest Holdings, a company in turn owned by the Beneficial Trust Fund, the pension fund of the Philippine Long Distance Company headed by Manuel V. Pangilinan who, according to Rigoberto Tiglao’s book “Colossal Deception,” fronts for Indonesian tycoon Anthoni Salim.
MediaQuest Holdings has its own shares in BusinessWorld Publishing Corporation. Aside from the paper, it also owns TV5 online platform interaksyon.com, where Alampay is also editor-in-chief.
Media Companies / Groups
Hastings Holdings, Inc.
Manuel V. Pangilinan owned Hastings Holdings and Mediaquest Holdings own 76.64 percent of BusinessWorld Publishing. The remaining shares belong to the employees' retirement fund and other individual shareholders.
Group / Individual Owner
Group / Individual Owner
MediaQuest Holdings, Inc.
MediaQuest Holdings is wholly-owned by the PLDT Beneficial Trust Fund, which is owned by Manuel V. Pangilinan.
BusinessWorld Retirement Fund
The BusinessWorld Retirement Fund are consolidated shares held by employees for its retirement liabilities.
Affiliated Interests Founder
As editor and founder of BusinessWorld predecessor BusinessDay, Raul Locsin received the Economic Editor of the Year Award by the Press Foundation of Asia and Mitsubishi Public Affairs Committee in 1976. He also served as the chairman of the Philippine Press Institute.
Miguel G. Belmonte
Affiliated Interests Ceo
Miguel Belmonte is son of Philippine Star founder Betty Go-Belmonte. His father Feliciano Belmonte, Jr. was former House Speaker while his sister Joy Belmonte is incumbent Quezon City vice mayor.
Affiliated Interests Editor-In-Chief
Roby Alampay is also editor-in-chief of TV 5's online arm, interaksyon.com
Raul L. Locsin Building I 95 Balete Drive Extension, New Manila, Quezon CityTelephone Number: +632-535-9901; +632-535-9923 Fax Number: +632-535-9926
Revenue (in Mill. $)
3.63 Mil $ / 169.93 Mil P
Operating Profit (in Mill. $)
-0.4 Mil $ / -18.8 Mil P
Advertising (in % of total funding)
3.08 Mil $ / 144.23 Mil P
Conversion rate on Dec. 31, 2015: P 46.85
Sources Media Profile
Financial Statement of Philippine Business Daily Mirror, Inc. (available upon request at SEC) (2015), Securities and Exchange Commission (SEC)
Financial Statement of BusinessWorld Publishing Corporation. (available upon request at SEC) (2015), Securities and Exchange Commission
Email correspondence with Roby Alampay (2016)