Prime Media Holdings, Inc. (PRIM) was originally incorporated on February 6, 1963 as Private Development Corporation of the Philippines and then changed to PDCP Development Bank, Inc. that same year. In June 6, 2000, the company changed its name to First e-Bank Corporation and then eventually shifted to its current name in October 2003. In 2002, Banco de Oro Unibank, Inc. assumed the servicing of PRIM's deposit liabilities and other banking functions. On December 6, 2002, the Board of PRIM approved the amendment of its articles of incorporation to change to primary purpose from a development bank to a holding company, which would hold investments in the media industry. At present, PRIM is still in the process of cleaning up its balance sheet to pave the way for the entry of a new investor who will be willing to inject its business or assets into the company. Source: SEC Form 17-A (2008)