Prime Media Holdings confirmed a leadership reshuffle following controversies involving personalities tied to anomalous government flood control projects.
In a disclosure to the Philippine Stock Exchange (PSE) after its board meeting on February 18, the company announced that Atty. Dennis Manalo will assume the roles of Chairman and President of the media firm owned by former House Speaker and Leyte 1st District Representative Martin Romualdez.
Dennis Manalo replaces Atty. Manolito Manalo, Romualdez’s fraternity brother in Upsilon Sigma Phi, who resigned after being linked to the alleged sale of a luxury property in South Forbes Park amid corruption issues tied to flood control projects.
The reshuffle also secures Dennis Manalo’s position in Media Serbisyo Production Corporation, the joint venture of Prime Media Holdings and ABS-CBN Corporation, which currently manages DZMM Radyo Patrol 630 and its cable counterpart DZMM Teleradyo.
The move underscores Prime Media’s effort to stabilize leadership and maintain operations amid heightened scrutiny over its executives’ involvement in government-linked controversies.