during the martial law era. MRS 92.3 was an adult contemporary station, which played listeners' most requested songs. Its provincial stations carried the format as well. When PLDT media subsidiary MediaQuest Holdings, Inc. bought NBC from the consortium led by the Yabut family and real estate magnate Manny Villar in 1998, its stations rebranded into their respective names under the @ Rhythms banner. DWFM in Manila became Joey and aired a smooth jazz and R&B format. Tony in Zamboanga aired oldies, ranging from the 50s and 60s. Rocky in Iligan aired modern rock. The remaining NBC stations in Baguio (Jesse), Cabanatuan (Donna), San Pablo, Laguna (Lovely), Naga (Nikki), Legazpi (Alex), Bacolod (Jamie), Cebu (Charlie), Davao (Danni), Butuan (Jake), Cagayan de Oro (Sandy), General Santos (Anna) and Cotabato (Marco) aired a contemporary hit radio format. The Rhythms banner was dropped in 2004, leaving their names intact. On April 8, 1998, Republic Act No. 8623 renewed NBC its congressional franchise for another 25 years, The law granted NBC a franchise to construct, install, establish, operate and maintain for commercial purposes and in the public interest, radio and/or television broadcasting stations in the Philippines. On April 8, 2007, XFM began after 923 Joey was signed off on April 4, just before Holy week. XFM featured ambient, chill, down-tempo, electronica, house, lounge, trip-hop and indie music on radio until its ground-breaking format in February 2008. In October 2009, the Manila, Cebu and Davao stations discontinued their Smooth AC format. The Manila station became U92, in partnership with All Youth Channels. It became the first CHR-formatted station focused on MTV Philippines broadcasting from a state-of-the-art studio at Silver City Mall, Frontera Verde Complex, Pasig City. The Cebu and Davao stations became WAV FM, in partnership with AudioWAV (WAV Atmospheric), a Makati City-based multinational instore radio company known for producing customized music and messaging for large chains across Southeast Asia and North America. The other provincial stations retained their formats. On September 30, 2010, U92 shut down following the dissolution of MTV Philippines in February. On October 1, 2010, NBC, in partnership with its affiliate ABC Development Corporation (TV5), took over the management of 92.3 FM. As part of TV5's expansion, the station will become Radyo5 92.3 News FM, the first news/talk station on FM band. On November 8, it had its debut at 12:30 am and its first day of broadcasting began at 4 am.