Eric S. Canoy Family

The family of Eric S. Canoy, owns and manages one of the country’s largest radio networks consisting of 59 AM and FM stations nationwide. The stations are under EDCanoy Prime Holdings Inc. subsidiary companies Radio Mindanao Network, Inc. (RMN), and affiliates including Interactive Broadcast Media, Inc (IBMI).

IBMI, which is 99%-owned by EDCanoy Prime Holdings, runs AM station DWWW 774, which distinguishes itself as a news and music station on the AM band.

Meanwhile, Eric’s family owns a total of 65.62601% shares in RMN. Eric and his children (Erica Marie, Enrico Guido, Enrico Maximo Mariano, Erin Kristine and Eric Andre) each hold 0.00053% individual shares in RMN, which is then combined with 65.62283% shares separately owned by EDCanoy Prime Holdings, Inc.

Ninety-five percent of EDCanoy Prime Holdings is equally distributed among the children of Eric S. Canoy: Erika Marie Canoy-Sanchez, Enrico Guido, Enrique Maximo Mariano, Erin Kristine, and Eric Andre, each with a 19% ownership share. The remaining 5% is with Eric himself (2%) and his wife, Desiree (3%).

EDCanoy Prime Holdings, Inc. also has shares in marketing and advertising firms: Echo Media Marketing Innovations Corp. and RMN Networks Marketing and Media Ventures, Inc. It is also the parent company of Kinaiya Ventures, Inc., a nature park in the province of Cavite.

In 2016, Eric S. Canoy, president of EDCanoy Prime Holdings, Inc., and chairman of RMN, reportedly expressed interest in acquiring sequestered television station Intercontinental Broadcasting Corporation (IBC-13), one of the stations seized by the Philippine state after the 1986 EDSA Revolution.

Canoy, former president of IBC from 2011-2014, said plans were afoot to create a consortium that would make a bid for the network, previously a top TV station operating without state subsidy due to the popularity of its programs. Government in 2016 approved IBC-13 for privatization, but until now it remains state-owned.

The planned acquisition may have been part of a bid to add a TV station to Canoy’s media network, after it was forced to shut down its television station, E! Philippines, in 2003 due to financial constraints and poor ratings.

Eric S. Canoy also holds 0.008% shares of Radyo Veritas Global Broadcasting System, Inc., the company that owns Radyo Veritas 836. According to the 2022 annual financial statement of Radio Veritas Global Broadcasting System, Inc, it entered into an agreement with RMN to co-locate its radio transmitter in Taliptip, Bulacan and to jointly use RMN’s broadcasting facilities and equipment.