Banat News
Banat News is a Cebuano dialect tabloid circulating in the Visayas region. With demand for news and content in the local language increasing, Banat’s first issue was published by its sister publication, The Freeman, on August 23, 1994. Both newspapers were then owned by the Gullas family, a known influential political clan in Cebu province.
The Freeman, initially published on May 10, 1919, holds the distinction of being the oldest surviving English-language newspaper in the province.
On August 24, 2004, the Belmonte family, owner of Philstar Media Group and publisher of Manila-based broadsheet, The Philippine Star, acquired The Freeman and Banat as part of their strategy to expand with community newspapers to strengthen their presence and influence throughout the Philippines. Its former owner, Jose “Dodong” Gullas, retained editorial control over the two publications.
Dodong Gullas served as chairman of JS Publications (The Freeman) Co., Inc. until his death at 87 due to pancreatic cancer in February 2021. He was replaced by Victorico Vargas as chairman.
Five years later, business mogul and PLDT chairman Manuel V. Pangilinan expressed interest in acquiring a stake in Philippine Star.
In 2010, Pangilinan’s MediaQuest Holdings, Inc., PLDT’s media conglomerate, acquired a 20 percent stake in the newspaper. Four years later, with MediaQuest’s acquisition of the Belmontes’ Philstar Media Group, The Freeman and Banat became part of the MVP Group of Companies, along with other Philstar Media Group publications The Philippine Star, Pilipino Star Ngayon, Pang-Masa, Starweek, and Businessworld.
Based on Nielsen’s 2023 Quarter 2 Philippine Media Landscape Report, Banat is the third leading regional newspaper with an audience measurement of 0.41%.
Audience Share
0.41%
Ownership Type
Private
Geographic Coverage
National
Content Type
Paid content
Media Companies / Groups
Philstar Media Group
Hastings Holdings, Inc.
MediaQuest Holdings, Inc.
Ownership Structure
Banat News is operated by JS Publications (The Freeman) Co., Inc., which is majority owned by Pilipino Star Ngayon, Inc. through a 49.99% stake. Pilipino Star Ngayon, Inc. is 80% owned by Hastings Holdings, Inc. and 20% by members of the Belmonte Family. Meanwhile, Hastings Holdings, Inc. is a wholly owned subsidiary of PLDT’s media arm MediaQuest Holdings, Inc., chaired by business tycoon Manuel. V. Pangilinan.
The Belmonte family owns a combined share of 10.004% in JS Publications (The Freeman) Co., Inc. Its ownership stakes are derived from the 0.006% combined shares directly held by Jaime Miguel, Juan Kevin and Feliciano Isaac, who each own 0.002%. The other 9.99800% comes from the family’s 20% ownership through Pilipino Star Ngayon, Inc.
About 39.9% of Banat News is controlled by Pangilinan through Media Quest and Hastings while the Belmonte Family retains about 9.998% through Pilipino Star Ngayon. 32.8% shares are held by the Gullas siblings — Joei Marie F. Gullas-Yu and John Vicente F. Gullas — each holding 16.40%. That leaves 16.41% unaccounted for in the company’s General Information Sheet (GIS).
Banat News is the sister publication of The Freeman owned by the Gullas family, a known influential political clan in Cebu province. It was acquired by the Belmonte family through Pilipino Star Ngayon, Inc. under the umbrella of the Philippine Star Media Group in 2004.
Voting Rights
Missing Data
Individual Owner
Group / Individual Owner
The Gullas family
The Gullas siblings — Joie Marie F. Gullas-Yu and John Vincente F. Gullas — directly hold 32.8% shares in JS Publications (The Freeman) Co., Inc. They are the children of Jose “Dodong” Gullas, the company’s late chairman who revived The Freeman in 1965.
Joie Marie, daughter of Dodong, is a board member in JS Publications (The Freeman) Co., Inc. and an ex-officio member of the board of trustees of the University of Visayas. Meanwhile, Dodong’s son John Vicente is a board member and treasurer of JS Publications.
General Information
Founding Year
1994
Affiliated Interests Founder
was the former publisher of The Freeman. He was the first editor-in-chief of Banat News.
the eldest son of Jose “Dodong” Gullas, the late chairman of The Freeman and Banat News.
Affiliated Interests Ceo
is the president and CEO of Philstar Media Group. He is the third son of The Philippine STAR founder Betty Go-Belmonte. His father Feliciano Belmonte, Jr. was a former House Speaker while his sister Joy Belmonte is the incumbent Quezon City mayor.
Miguel is credited for the growth of, the PhilStar Media Group which is now a multimedia enterprise that includes People Asia, BusinessWorld, The Freeman, Pilipino Star Ngayon, Pang-Masa, Banat, and InterAksyon.
Affiliated Interests Editor-In-Chief
is the Editor-in-Chief of Banat News.
Affiliated Interests other important people
is the Chairman of JS Publications (The Freeman) Co., Inc. He is also the Chairman of the Board of Directors of Philstar Daily Inc., Philstar Global Corporation, and Pilipino Star Ngayon, Inc. He is the former President and Chief Executive Officer of Maynilad Water Services, Inc. He also served as Director of PLDT Subic Telecom, Inc. and PLDT Clark Telecom, Inc., President and Member of the Board of Trustees of the First Pacific Leadership Academy, Trustee of the MVP Sports Foundation, and IdeaSpace Foundation, and President of the PhilPop Music Fest Foundation. He has also worked in senior roles at Union Carbide, Pepsico, Colgate Palmolive, and Citigroup.
is the Chief Financial Officer of JS Publications (The Freeman) Co., Inc., Philstar Daily Inc., and Philstar Global Corporation.
is the Vice Chairman of The Freeman and the Treasurer of JS Publications (The Freeman) Co., Inc.
is the Corporate Secretary of JS Publications (The Freeman) Co., Inc. and Philstar Global Corporation. She also sits as the Assistant Corporate Secretary of PhilStar Daily Inc. and Pilipino Star Ngayon.
is the Executive Vice President of Philstar Media Group. He heads the Sales and Marketing of The Philippine Star, Business World, Pilipino Star Ngayon, Freeman, Banat, and PM, and also oversees The Philippine Star's multimedia platforms.
is the Advertising Supervisor of Philippine Star in Cebu.
is the Advertising Manager of Pilipino Star Ngayon. She has headed the advertising activities of the tabloid for 13 years.
is the Circulation Supervisor of Banat News
is the News Editor of Banat News
is the Hugyaw Editor of Banat News
is the Sports Editor of Banat News
is the General Manager of The Freeman
Contact
Philippine Star Media Group Building, D. Jakosalem corner V. Gullas Street, Cebu City, Philippines
Tel. No.: (032) 255-4263/ 253-8613, 416-8588 (DL)
Website: www.philstar.com/banat
Financial Information
Revenue (in Mill. $)
992,926 US$ / 54,998,394 PhP
Operating Profit (in Mill. $)
Missing Data
Advertising (in % of total funding)
Missing Data
Market Share
Missing Data
Further Information
Meta Data
There appears to be a discrepancy in the general information sheet of JS Publications (The Freeman) Co., Inc. because the total declared shares only summed up to 82.798%. The remaining 17.20% could be the 8,600 common shares amounting to PhP430,000 held by the Estate of Jose R. Gullas.
Audience share is based on Consumer & Media View survey for newspapers under Nielsen’s Philippine Media Landscape Report for Quarter 2 of 2023.
Sources
Media Landscape Report for Quarter 2, 2023, available upon purchase from Nielsen Company (US), LLC
