MBC buys radio station 96.3 WRock for P229.6M

The Elizalde family-owned Manila Broadcasting Corp., which owns the largest radio network in the country, has further spread its wings with the acquisition of Metro Manila radio station dwRK, more popularly known as 96.3 WRock, for P229.6 million.

A member of the Fred J. Elizalde Group of Companies, MBC is home to the country’s oldest radio station dzRH, the only nationwide via satellite AM station in the country. It also owns and operates 90.7 Love Radio and 101.1 Yes FM.

In a disclosure to the Philippine Stock Exchange, (PSE), MBC said it is acquiring dwRK from ACWS-United Broadcasting Network Inc. and Exodus Broadcasting Co. as part of a strategy to attract the youthful A-B listeners who favor light rock music.

Love Radio and YES FM utilize an adult contemporary music format, which combines new chart-topping hits with familiar songs that are acknowledged as timeless favorites in order to attract listeners from virtually every age group and economic background.

The acquisition will be funded by a combination of internally-generated cash and loans secured from various banks. 

MBC said around 25 percent of the total consideration for the purchase of dwRK is held in escrow for release upon full compliance with the documentary requirements to transfer ownership of the station.

 “ Armed with the same business foresight that has seen it through seven decades as a media conglomerate to reckon with, MBC’s acquisition of DwRK is viewed as an even bigger boost to its overall audience share, with aggregate advertising revenues set to propel to even higher levels,” MBC said.

Outside Metro Manila, MBC has Aksyon Radyo, which operates its network of provincial AM stations. Hot-FM, on the other hand, is the group’s provincial pop format station which commands a solid following among the youth market.

MBC’s major competitors include Bombo Radyo, Radio Mindanao Network, GMA, NBC, the Vera Group and ABS-CBN.

MBC boasts of top-rated stations in almost all areas of the country because of its good program format, talented broadcasters and state-of-the-art equipment. MBC generates sales through advertising that accounts for more than 98 percent of the corporate revenue.