MediaQuest Holdings Inc has acquired more shares in BusinessWorld Publishing Corp.The deal made the PLDT Group subsidiary the controlling stakeholder of the first business newspaper in the Philippines. MediaQuest oversees the media assets of the PLDT Group. It was only last June that Manuel V. Pangilinan, Chairman of the PLDT Group, told reporters his company's purchase of the BusinessWorld stakes was a done deal. 

In a text message to ABS-CBN, MediaQuest Director Ray C. Espinosa said the telecom company exercised its pre-emptive right to subscribe 30 million new shares. "MediaQuest has also agreed to subscribe to 70 million new shares of BusinessWorld, which were not taken up by other shareholders," he further revealed.

Other media companies in MediaQuest's portfolio are Cignal Digital TV, Nation Broadcasting Corp and Associated Broadcasting Co (TV5). The PLDT Group also intends to become a majority shareholder in The Philippine STAR, a newspaper of nationwide circulation. Pangilinan's group currently holds a 20% share in the broadsheet owned by the Belmonte family.