The Canoy Family
EdCanoy Prime Holdings, Inc. is owned by the Canoy family. In 2010, it acquired shares of stock of Interactive Broadcast Media, Inc. (IBMI), the broadcast company that owns and operates radio station, DWWW 774.
In 2012, IBMI became an associate of EdCanoy Prime Holdings, Inc., with 49 percent ownership. As such, EdCanoy Prime Holdings Inc. was granted significant but limited influence over IBMI, having the capacity to participate, but not control, its financial and operating policy decisions.
As of June 2016, IBMI, in its General Information Sheet, already declared EdCanoy Prime Holdings as its primary stockholder, with 99 percent ownership.
EdCanoy Prime Holdings, Inc. is also the parent company of Radio Mindanao Network, Inc. (RMN), another company engaged in radio broadcasting, with 52 percent ownership acquired in 2010. In 1961, under Republic Act 3122, RMN was granted the franchise to establish, operate and maintain radio stations for broadcasting on a network-wide basis.
In 2015, Congress granted RMN’s application for renewal of its legislative franchise for another 25 years. To date, RMN is the largest radio network in the Philippines, with nearly 60 AM and FM stations.
Aside from broadcast companies, EdCanoy Prime Holdings, Inc. has shares in businesses engaged in marketing and advertising. It is the owner of Echo Media Marketing Innovations Corporation. (EMMIC), the exclusive marketing arm of IBMI. Additionally, it owns 15 percent of RMN Networks Marketing and Media Ventures, Inc., (RMN MMVI). RMN is the parent company RMN MMVI, with 70 percent ownership. RMN MMVI refers to EdCanoy Prime Holdings Inc. as its ultimate parent, with 51 percent effective interest as of December 2015.
In March 2016, Eric S. Canoy, president of RMN and EdCanoy Prime Holdings, Inc., reportedly expressed his interest in acquiring the sequestered government television channel, Intercontinental Broadcasting Corp. (IBC-13). Canoy said plans were afoot to create a consortium that would make a bid for IBC-13.
Canoy is also one the stockholders of Radyo Veritas Global Broadcasting System, Inc., the radio company that owns Radyo Veritas 836.
Radio Mindanao Networks, Incorporated
RMN Networks Marketing and Media Ventures, Incorporated
Echo Media Marketing Innovations Corporation
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Eric S. Canoy also has shares in Radio Veritas Global Broadcasting System, Incorporated.