BusinessWorld Publishing Corporation
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BusinessWorld Publishing Corporation Details
BusinessWorld, the Philippines' pioneering business newspaper, represents five decades of professional economic journalism.This tradition of excellence began when BusinessDay first came off the press on February 27, 1967. In its maiden issue, the newspaper pledged "competent and responsible reporting of the news."The newspaper expanded its operations in the years that followed to keep in step with the growing business community, eventually making BusinessDay Southeast Asia's first business daily.BusinessDay was considered a standard of fairness, credibility and integrity in the journalistic world. The principles behind the paper's existence were closely guarded by its publisher/president and editor-in-chief Raul L. Locsin.At least twice in its history, the paper was able to withstand forces both within and outside the company. First, the martial law years failed to stop its presses. Second, the concept of professional economic journalism refused to die even as a labor problem forced the company to close shop on June 5, 1987.In 2013, telecommunications giant Philippine Long Distance Telephone Company(PLDT) acquired a minority stake in BusinessWorld through its Beneficial Trust Fund unit, MediaQuest Holdings, Inc.On May 30, 2015, the board of directors of BusinessWorld elected The Philippine STAR President and Chief Executive Officer (CEO) Miguel G. Belmonte as CEO of BusinessWorld. In July that year, Philippine Star Printing Company, Inc. (PhilStar) acquired 76.63% of BusinessWorld Publishing Corp. from Hastings Holdings, Inc. in a move meant to "strengthen the distribution and operations" of the country's premier business daily.Despite change, BusinessWorld's success over the years has constantly been anchored on a firm belief that a newspaper is a public trust.
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