BusinessWorld
.jpg) Frontpage of BusinessWorld's first issue, July 27, 1987 |
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| Type | Daily newspaper (excluding weekends) |
|---|---|
| Format | Broadsheet |
| Owner | BusinessWorld Publishing Corporation (70%) MediaQuest Holdings, Inc. (30%) |
| Founder | Raul L. Locsin |
| Founded | February 27, 1967 |
| Political alignment | Independent |
| Official website | http://www.bworldonline.com/ |
BusinessWorld is a business newspaper in the Philippines. Its forerunner, BusinessDay, whose maiden issue came out on February 27,1967, was Southeast Asia’s first business daily. As of September 2011[update], it has a daily circulation of 65,000.
BusinessDay expanded its operations in the years that followed to keep in step with the growing business community. It pledged "competent and responsible reporting of the news."
It 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.
The non-striking workers got together barely a month later to form BusinessWorld Publishing Corporation, ushering in the paper’s rebirth under a new name. This rebirth also saw the full computerization of its production process.
Unlike its predecessor, BusinessWorld has had to compete from the very start with other business dailies and several other papers with expanded business sections. But the paper managed to position itself comfortably in the overcrowded industry. Indeed, not all business papers are created equal.
Today, the business paper comes out Mondays through Fridays, with a Saturday exclusive Online Edition, with national and foreign circulation totalling 60,000.
With the paper’s excellent news coverage and style of reporting, a readership survey conducted late last year by an independent research group revealed that subscribers pass their copies on to an average of five other persons. Its subscribers are trendsetters and decision-makers -- leaders in business, industry and government, both here and of governments and corporations abroad that are keen on Philippine business updates.
General broadsheets included, BusinessWorld ranks fourth in the industry in terms of advertising revenues. This, despite its six days a week frequency compared to the seven days of the other papers.
Over the last 10 years, BusinessWorld has exhibited remarkable growth. Immediately after its rebirth, the company revived two other products -- the monthly BusinessWorld Files and the annual BusinessWorld Top 1000 Corporations in the Philippines.
It incorporated World Press, Inc. a wholly owned printing subsidiary, in 1991. In 1994, the company moved to its new home in Quezon City and embarked on its then innovative library computerization program. In October 1995, BusinessWorld ventured into on-line publishing with BusinessWorld Online -- the first business news Web site in the Philippines, and one of the first in East Asia. Codex, its electronic archives, is one of the Philippines’ most extensive banks of the country’s business news and information, published since 1994. Today, BusinessWorld also publishes the award-winning luxury consumer monthly magazine, BusinessWorld High Life.
The company has been flexible enough to introduce new sections to meet the market’s rapidly changing needs. Despite change, BusinessWorld’s success over the years has constantly been anchored on a firm belief that a newspaper is a public trust.
In a meeting in April 30, 2013, BusinessWorld announced that would issue new shares to MediaQuest Holdings, Inc., the media arm of the PLDT, ceding its control as the majority owner of the newspaper. [1] PLDT, in the other hand decided to raise its ownership to over 50%. [2]
References [edit]
- ^ BusinessWorld to cede control to PLDT group, sources say retrieved May 2, 2013
- ^ PLDT group to raise BusinessWorld stake to more than 50 pct retrieved May 5, 2013
External links [edit]
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