SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Oct 10, 2016

2. SEC Identification Number

1674

3. BIR Tax Identification No.

000-479-027-000

4. Exact name of issuer as specified in its charter

MANILA BROADCASTING COMPANY

5. Province, country or other jurisdiction of incorporation

METRO MANILA, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

MBC, BLDG., V. SOTTO ST., CCP COMPLEX, PASAY CITY Postal Code 1307

8. Issuer's telephone number, including area code

(632) 832-6149/832-6150

9. Former name or former address, if changed since last report

No change in address since its last reportr to this Honorable Commission

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	402,682,990

11. Indicate the item numbers reported herein

Item. 2 Acqusition of Assets

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Manila Broadcasting CompanyMBC

PSE Disclosure Form 5-1 - Substantial Acquisitions References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 and/or Section 5 of the Revised Disclosure Rules

Subject of the Disclosure
Acquisition of Shares.
Background/Description of the Disclosure
On October 10, 2016, Manila Broadcasting Company (MBC) executed an agreement with Elizalde Hotels and Resorts Inc. (EHRI), an affiliated company, for the purchase of 200,000 common shares. The total purchase price is P200,000,000.00 The price was determined based on the par value per share of EHRI. The closing of the transaction shall be subject to the complete of all customary closing as stated in the agreement.

Date of Approval by Board of Directors	Oct 3, 2016
Date of Approval by Stockholders	N/A
Other Relevant Regulatory Agency, if applicable	N/A
Date of Approval by Relevant Regulatory Agency	N/A

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The acquisition aims to maximize MBC Stockholders' returns by investing in the high growth industry of Hotel and Resort Business.
Description of the transaction including the timetable for implementation and related regulatory requirements, if any
1) Share Sale and Purchase of 200,000 common shares for P200,000,000.00 2)Payment of P50,000,000.00 (25% of the purchase price) upon subscription. 3)The remaining P150,000,000.00 (75% of purchase price) payable within one year.

Identities of the parties to the transaction

Name	Nature of Business	Nature of any material relationship with the Issuer, their directors/officers or any of their affiliates
Elizalde Hotels and Resorts Inc. (EHRI)	Engaged in the business of hotels and resorts	Affiliated Company

Terms and conditions of the transaction

The nature and amount of consideration (e.g. price per share, the aggregate amount)
Cash, P 200,000,000.00 (P1,000.00 per share)
Basis upon which the amount of consideration or value of the transaction was determined
The value of the transaction is based on the par value per share of EHRI.

The number of shares to be acquired	200,000
Ratio/percentage to total outstanding capital stock	44.44

Terms of payment
25% upon Subscription: 75% within one year
Conditions precedent to closing of the transaction, if any
Standard conditions such as delivery of original stock certificates and the execution of the necessary transfer documents.

Description of the company subject of the transaction

Nature and business
Elizalde Hotels and Resorts Inc. (EHRI) is engaged in the business of hotels and resorts. Please also refer to the Audited Financial Statements of EHRI as of December 31, 2015, a copy of which is attached hereto.
Discussion of major projects and investments
Please refer to the Audited Financial Statements of EHRI as of December 31, 2015, attached hereto.

List of subsidiaries and affiliates, with percentage holdings

Name	% Ownership
FELIZ HOTEL BORACAY, INC.	99.97

Capital structure

Authorized capital stock

Type of Security	Amount	Number of Shares
Common Shares	1,000,000,000.00	1,000,000

Subscribed Shares

Type of Security	Amount	Number of Shares
Common Shares	250,050,000.00	250,050

Paid-Up Capital

Amount	62,550,000.00
Number of Shares	62,550

Issued Shares

Type of Security	Amount	Number of Shares
Common Shares	250,050,000.000	250,050

Outstanding Shares

Type of Security	Amount	Number of Shares
Common Shares	250,050,000.000	250,050

Par Value

Type of Security	Amount
Common Shares	Php1,000.00

Ownership Structure (including percentage holdings)

Name	Number of Shares	% Ownership
Elizalde Holdings Corporation	250,000	99.98
Fred J. Elizalde	10	0
Ruperto S. Nicdao, Jr.	10	0
Julio Manuel P. Macuja	10	0
Eduardo G. Cordova	10	0
Rudolph Steve E. Jularbal	10	0

Board of Directors

Name	(Regular or Independent)
Fred J. Elizalde	Regular
Ruperto S. Nicdao, Jr.	Regular
Julio Manuel P. Macuja	Regular
Eduardo G. Cordova	Regular
Rudolph Steve E. Jularbal	Regular

Principal Officers

Name	Position/Designation
Eduardo G. Cordova	Treasurer

Effect(s)/impact on the business, financial condition and operations of the Issuer
This acquisition will increase the MBC's income through dividends and capital gains that will be beneficial to MBC Stockholders.
Other Relevant Information
None.