Stock Information

PRIM | PRIME MEDIA HOLDINGS, INC.

Sector: HOLDING FIRMS | Sub-Sector: HOLDING FIRMS

Prime Media Holdings, Inc. (PRIM) was originally incorporated on February 6, 1963 as Private Development Corporation of the Philippines and then changed to PDCP Development Bank, Inc. that same year. On June 6, 2000, the Company changed its name to First e-Bank Corporation and then eventually shifted to its current name on October 20, 2003.

In 2002, Banco de Oro Unibank, Inc. assumed the servicing of PRIM's deposit liabilities and other banking functions. On December 6, 2002, the Board of PRIM approved the change in primary purpose from a development bank to a holding company, which would hold investments in the media industry.

In view of the very minimal operations, the Company gradually retired all its employees by 2010 and engaged consultants/service providers to service its requirements.

On May 23, 2023, the Company entered into a joint venture agreement with ABS-CBN to create a joint venture company which will develop, produce and finance content programs and shows for distribution to local and international broadcast networks, channels and platforms. On July 5, 2023, the parties incorporated such joint venture company under the name, Media Serbisyo Production Corp. with ownership ratio of 51:49 between Prime Media and ABS-CBN.

Source: SEC Form 17-A (2024)