BusinessWorld to cede control to PLDT group, sources say
MANILA - The majority owner of the country's first business newspaper is ceding control to the PLDT group, sources told InterAksyon.com.
In a meeting last Tuesday, the cooperative of BusinessWorld decided to issue new shares to MediaQuest Holdings, which already has a 30 percent stake in the newspaper, the sources said.
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Aside from its 30-percent stake in BusinessWorld, the PLDT Group also owns 20 percent of Philippine Star and 18 percent of Philippine Daily Inquirer.
http://www.interaksyon.com/business/60774/businessworld-to-cede-control-to-pldt-group-sources-say
