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)

May 26, 2023

2. SEC Identification Number

22401

3. BIR Tax Identification No.

000-491-007

4. Exact name of issuer as specified in its charter

PRIME MEDIA HOLDINGS, INC.

5. Province, country or other jurisdiction of incorporation

Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

16TH FLOOR BDO TOWERS VALERO (FORMERLY CITIBANK TOWER), 8741 PASEO DE ROXAS MAKATI CITY Postal Code 1227

8. Issuer's telephone number, including area code

8831-4479

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

-

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	700,298,616
PREFERRED	14,366,260

11. Indicate the item numbers reported herein

Item 9 Other Events

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.

Prime Media Holdings, Inc.PRIM

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Prime ABS venture will only produce and distribute radio content
Background/Description of the Disclosure
The joint venture between Prime Media and ABS-CBN will focus mainly on content creation and production not for free TV broadcast. This is according to Prime Media President, Atty. Manolito A. Manalo. “The objective of the JV is to provide accurate and balanced news and information to the country and public service. The content produced by the joint venture will be distributed to radio, cable tv and other platforms, including the stations under Philippine Collective Media Company (PCMC). The business model is similar to various local studios and production companies but the content we will produce are not for free TV broadcast.” Atty. Manalo further clarifies that, “PCMC is just one of its distribution channels. It is an independent organization. ABS-CBN will not be involved in Prime’s or PCMC’s operations. The Parties will create a joint venture company.” Prime Media recognizes the power of radio as a means to connect people, raise awareness, and influence positive social change due to its wide reach, affordability, and accessibility. “The partnership with ABS-CBN is, without a doubt, a great business opportunity. More importantly, it is an ideal example of corporate social responsibility; meant to address information gaps and provide public service. For the shareholders of Prime, the transaction will enhance their shares’ value through the revenue stream expected to be generated from its equity investment in the joint venture.
Other Relevant Information
Disclaimer: This Press Release contains forward-looking statements. Such forward-looking statements are Prime Media's goals, plans, and present expectations of future events, and are subject to risks, uncertainties and other factors that may materially vary actual results, performance or achievements. Investors are cautioned to invest at their own risk.