The Elizalde Family

The Elizalde family eventually owns 89.74% of the Manila Broadcasting Company (MBC) -- which goes by the brand name MBC Media Group since Feb. 6, 2024 -- the operator of DZRH, the oldest commercial radio station in the Philippines.

Through Federico “Fred” J. Elizalde, chairman of MBC and its parent company Elizalde Holdings Corporation, the Elizaldes maintain a conglomerate of 22 companies with total assets amounting to PhP4.479 billion (around US$78.809 million), which are involved in various businesses such as broadcasting, real estate, hospitality, agriculture, amusement and leisure.

The Elizalde’s ownership of MBC is composed of 72.38% direct ownership through Elizade Holding Corporation and a further 17.36% through the trust fund for the Elizalde children. The trust fund was created by Manila Broadcasting Company Chairman Federico “Fred” J. Elizalde and is administered by Romulo Mabanta Buenaventura Sayoc & de los Angeles, a Philippine-based law firm located in Makati City. The law firm has authorized Federico Elizalde to vote on corporate matters needing the exercise of vote by stockholders.

The Elizaldes are the descendants of businessman Joaquin Marcelino Elizalde, who emigrated from Navarre, Spain to the then-Spanish colony Philippines in 1846. In three decades, Joaquin Marcelino became one of the top businessmen in Manila and soon handed over his businesses to his son José Joaquin.

It was the sons of José Joaquin — Joaquin Miguel, Manuel and Federico — who saw the opportunity to expand their family's business empire to radio broadcasting on top of their rope factory, sugar mills, a shipping firm, an insurance firm and a distillery, among other businesses. Among the companies owned by the family were the Elizalde Rope Factory, Inc., which exported two thirds of ropes made in the Philippines; the alcohol maker Tanduay; Elizalde Paint and Oil Factory, Inc., and the Manila Steamship Co. Aside from Pilar Sugar Central in Capiz, it also owned one of the biggest sugarmills in the country called the La Carlota Sugar Central in Negros Occidental.

In June 1946, the Elizalde brothers led by Joaquin Miguel, the Philippines’ first-ever ambassador to the U.S., founded the Manila Broadcasting Company (MBC) with the help of Bertrand H. Silen, the station manager of then-KZRH (former name of DZRH). The radio network has grown to become one of the biggest and oldest in the Philippines.

The family also expanded their media venture to print. Among the publications they acquired were the Evening News; the Daily News International, a newspaper for expatriates; the Philippine Sun, a bilingual newspaper in English and Tagalog; Bulaklak, a Tagalog magazine; and a tourist magazine called Manila Guide Fortnightly. However, these were closed down upon the martial law declaration by the late dictator Ferdinand Marcos Sr. in 1972.

At present, the family’s radio business consists of six radio brands which include the flagship AM station DZRH Nationwide 666 and FM stations Love Radio, Yes! The Best, and Easy Rock. The MBC, which has been under the leadership of Fred Elizalde as chairman since 1985, has expanded nationwide with 18 relay stations in the provinces for DZRH; 11 for Yes! The Best; seven for Easy Rock station; and 26 for Love Radio.