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The Philippine Star Media Group (PhilSTAR) announced that it has acquired 76.63% of BusinessWorld Publishing Corp. (BusinessWorld) from Hastings Holdings Inc. (Hastings). The acquisition by PhilSTAR will strengthen the distribution and operations of BusinessWorld.
The Star’s press release indicated that it will absorb the printing and distribution requirements of BusinessWorld.
Miguel G. Belmonte, president of PhilSTAR, is also now concurrently
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the chief executive officer of BusinessWorld.
