NBC was established by Abelardo Yabut Sr. in 1963, coinciding with the launch of DXYZ, the network's pioneer AM station in Zamboanga City, using a surplus transmitter that he bought from Deeco Electronics in Manila.

In 1987, NBC acquired DWXX 1026 AM from Hypersonic Broadcasting Center and it was reformatted as DZAM, which featured news, commentaries, and well-balanced mix of entertainment and music programming.

NBC also pioneered in many ways as the first network to broadcast 24 hours a day outside of Metro Manila (via DYCB 765 in Cebu City).

In 2005, The Kingdom of Jesus Christ (KJC) leader pastor Apollo Quiboloy (through Swara Sug Media Corporation) acquired all of NBC's AM stations and were rebranded as Sonshine Radio.

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.

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.

XFM featured ambient, chill, down-tempo, electronica, house, lounge, trip-hop and indie music on radio until its ground-breaking format in February 2008.

Nation Broadcasting Corporation (NBC-41) is a commercial UHF television station owned by First Pacific conglomerate and headed by Manuel Pangilinan, who is also the chairman of the telecommunications giant Philippine Long Distance Telephone Company (PLDT).

In October 2024, it was reported by news website Bilyonaryo that Prime Media Holdings (through Philippine Collective Media Corporation) has signed a blocktime and content licensing agreement with MediaQuest Holdings for NBC-owned 92.3 FM in Metro Manila and other provincial stations, effective November 4, converting into outlets of PCMC's Favorite Music Radio as its relay national feed.

NBC confirmed the deal in a press statement on October 28, which also stated True FM's programs transferring to Bright Star-owned DWLA 105.9 MHz in Metro Manila and DXET 106.7 MHz in Davao (which TV5's previous owners divested to Interactive Broadcast Media in 2010, and was later operated by the city government of Digos in 2022), while retaining its Cebu and Cagayan de Oro.

The deal would eventually transfer NBC's FM assets and licenses to PCMC, subject to regulatory appeals and other commercial terms.

11667, which renewed NBC another 25 years to perform the same obligations, but now includes clauses involving digital television transmission in the Philippines.

In addition, selected True Network programs are also aired on channels of TV5 (via RPTV) and Cignal TV (via One PH) as well as on podcasts.