Premiere Entertainment Philippines, Inc. (PEP) started as Premiere Productions, Inc. when Dr. Ciriaco A. Santiago and his wife Adela Hermoso produced the movie "Probinsyana" in 1946. Premiere Productions, Inc. changed its name in 1988 to "Premiere Films International, Inc.," to reflect its venture into foreign movie productions and in 1993, it introduced the Roving Cinema, a theater-cum-advertising van showcasing movies, television programs or documentaries interspersed with advertisements between gaps. Premiere Films underwent a corporate restructuring program in 1996 to venture into the booming entertainment and leisure business in the country and changed its name to "Premiere Entertainment Productions, Inc." to reflect its new objective of engaging in various entertainment-related activities. Furthermore, the shares of stock of PEP were listed on the Philippine Stock Exchange on May 5, 1997, and became the first publicly-listed company engaged in the production of motion pictures. On the other hand, this was also the period when the company started its venture in the gaming industry, as part of its whole entertainment offer. PEP continues to offer broadcast rights for its film library titles for television, video, cable and other medium requiring such titles. In August 2008, PEP amended its company name to "Premiere Entertainment Philippines, Inc." PEP has successfully acquired I.T. gaming company Digiwave Solutions, Inc. (Digiwave), through a share swap transaction. The Securities and Exchange Commission (SEC) issued on 13 February 2009 the Certificate of Approval of Valuation certifying that the valuation of the shares of stock of Digiwave amounting to P1,003,592,000 or the aggregate of 500,000 shares of stock in exchange of shares of stock of PEP in the same amount was approved by the SEC pursuant to the provisions of the Corporation Code. At present, PEP has six subsidiaries, Digiwave Solutions, Inc., Premiere Events Palace, Inc., PEP Metro Leisure, Inc., Premiere Show Biz, Inc., La Prima Imperiale, Inc., and Premiere e-Teleservices, Inc. Source: The Company (2009)