Antonio Cabangon-Chua, the owner of both the Aliw Broadcasting Corporation and the Philippine Business Daily Mirror Publishing Inc., the company that oversees the operation of both BusinessWorld and BusinessMirror, has recently acquired majority stake in Republic of the Philippines Network (RPN9), making him the Chairman of the said network in the process.
The 34% stake was previously owned by Wilson Tieng who owns the Solar Entertainment Corporation.
The other notable portion of the stake are still currently owned Far Eastern Managers and Investors Inc. (32%) and by the State (20%). The rest (14%) are owned by private individuals.
Once the agreement has been settled, which is expected to take place next month, Cabangon-Chua will named the new chairman of RPN 9. Moreover, Cabangon-Chua will replace the name of the network to Aliw Channel which suits the name of his radio network.