Mabuhay Broadcasting System

In November 1973, during the martial law in the Philippines, Quirino De Guzman Sr. and Arcadio M. Carandang decided form a joint venture and organize a corporation known as Mabuhay Broadcasting Systems, Inc. (MBSI). Carandang contributed his technical expertise and new equipment while De Guzman pooled financial resources and needed franchise to the company.^[3] It was registered with the Securities and Exchange Commission (SEC) on December 13, 1973.

MBSI was granted a 25-year legislative franchise on April 13, 1992, under Republic Act (R.A.) 7395^[4] to construct, install, operate and maintain commercial radio broadcasting stations in the island of Luzon. Based on recent SEC filing, MBSI is majority owned by the Ragasa Family, heirs of Quirino de Guzman Sr. with 64% share.

In 2011, DZXQ was acquired by a new set of investors, which was later related to Information Broadcast Unlimited. Not long after, the Henares family acquired a minority stake in MBSI, making it an affiliate company of Progressive Broadcasting Corporation, a nationwide radio and television network headed by Alfredo "Atom" L. Henares.

On February 1, 2015, House Bill No. 5982^[5] was approved by the House of Representatives and Senate of the Philippines^[6] renewing MBSI's franchise for another 25 years and expanding its coverage to include both radio and television broadcasting throughout the Philippines. It was approved by President Benigno Aquino III on May 10, 2016.^[7] Not long after, MBSI acquired the provincial stations owned by PBC.