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DWFM (92.3 FM broadcasting), broadcasting as FM Radio 92.3, is a radio station owned by Nation Broadcasting Corporation and operated by Philippine Collective Media Corporation. It serves as the flagship station of FM Radio Philippines. The station's studio is located at 5th Floor, The Ignacia Place, 62 Sgt. Esguerra Ave corner Mother Ignacia Ave., Barangay South Triangle, Diliman, Quezon City; its transmitter is located at NBC compound, Block 3, Emerald Hills, Sumulong Highway, Antipolo.
Its first home was in Jacinta Building 1 along Arnaiz Avenue (near the Ayala Center complex). It later on moved to the NBC Tower/Jacinta Building 2 (now as ACQ Tower) along EDSA, Guadalupe, Makati.
The jazz format would also be implemented on all of NBC's other FM stations, who used other female names for their branding. It was also during this period that NBC entered into a joint venture with MTV Asia for an MTV Philippines feed via NBC's UHF Network (Channel 41). It also featured New-age music Instrumental during the Paschal Triduum of the annual Holy Week during that era, which is dubbed as "Take 20".
In 2004, the Rhythms tag was dropped, thus becoming 923 Joey (pronounced as "nine-two-three"), with the station slogan "It's a Groove Thing". In January 2007, the station was taken over by new management, led by radio executives Raymund Miranda and Al Torres (former voiceover for GMA Network, GTV, Heart of Asia Channel, and I Heart Movies, currently based in Canada), along with sales executive Amy Victa. Together with the new team, the butterfly was dropped from the logo and the official call letters were returned to DWFM, the original call letters of the station.
In February 2008, the station reverted to its smooth jazz format. Now known as XFM 92.3, it adopted the slogans "Stress Free Radio", "Cool, Hip, Light, Smooth and all that Jazz" and "Light N Up!". Rise: The 92.3 xFM experience
On October 1, 2010, U92 transitioned to a fully automated station, eight months after MTV Philippines shut down on February 15, which signified another branding to the station. It's cool to be U
In less than six months under the new format, Radyo5 ranked as the fourth most listened to FM stations in Metro Manila.7 RadyoSingko: No. 4 in just 4 months Interaksyon. Retrieved July 13, 2012. In March 2012, the Radio Research Council ranked Radyo5 as the number 1 news radio station in the market in a survey of motorists. Surveys show Radyo Singko poised to beat AM news radio stations .Interaksyon. Retrieved July 21, 2012. Afterwards, in 2013, Radyo5 was declared again by the PSRC Car Coincidental Survey as the most preferred & listened FM station for public utility vehicles including , taxis and FX. Radyo5 Remains No. 1 On The Road. Manila Bulletin Retrieved February 24, 2014.
On December 23, 2013, Radyo5 transferred its studios from the TV5 Studio Complex in Novaliches, Quezon City to their new home at TV5 Media Center along Reliance Street, Mandaluyong.
In 2017, a series of budget cuts were imposed by TV5's management. Among those affected were Radyo5's overnight operations. The network changed broadcast times twice until February 16, 2018, when they made a permanent daily 20-hour run (4:00 am until midnight), adding music content during early morning and late-night (except during radio coverage of double-header Philippine Basketball Association game days).
On November 8, 2022, coinciding with the 12th anniversary of the station, it launched its new slogan "Ito ang Totoong Tunog ng Serbisyo Publiko" ().
During TV5's trade launch, Radyo5 announced its plans for its relaunching scheduled January 23, 2023, along with new programs, and its renewed expansion to key cities nationwide.
On March 8, 2023, Radyo5 changed its sub-brand to True FM and adopted the slogan "Dito Tayo sa Totoo!" (), along with its first-ever jingle composed and arranged by Francis de Veyra. In addition, it debuted its radio dramas, including its first-ever radio drama, Sana Lourd, which also airs live on the station's Facebook page.
On May 1, 2024, Radyo5 launched another TeleRadyo channel True FM TV, which is exclusive on Cignal Channel 19.
On November 4, 2024 at midnight, True FM signed off for the last time on this frequency, accompanied with a farewell message. It then transferred its operations to DWLA-FM, owned by Bright Star Broadcasting Network Corporation.
Starting August and September 2019, selected Radyo5 and One PH programs ( Morning Calls, One Balita, One Balita Pilipinas, Wag Po! and Turbo Time with Mike and Lindy) begin its airing on either simulcast or delayed basis on TV5 as part of programming revamp spearheaded by TV5 Network's new CEO Jane Basas.
On March 17, 2020, Radyo5, along with One PH, temporarily suspended its regular programming as an effect of the Luzon-wide "enhanced community quarantine" against COVID-19. The radio station aired the special edition of One News Now and automated music throughout the day. However, regular programs resumed after a few months.
In December 2020, Cignal TV and Philstar Media Group took over the operations and programming of Radyo5, respectively. With this development, some of the station's programs aired their respective final episodes during the final weeks of December 2020. On January 1, 2021, One PH's programming (except for overnight slots) have been integrated to the programming schedule of Radyo5 and all the music blocks have been removed. The new management retained the radio coverage rights of PBA games, in which its existing exclusive contract between PBA and One Sports (formerly Sports5 and ESPN5) expired by the end of 2022.
The integrated programming of Radyo5 and One PH ended upon the launch of the former's new inhouse programs in January 2023. Starting January 29, 2023, its integrated Sunday programming, except for Healing Mass sa Veritas (simulcast from DZRV-AM) and Word of God Network, was axed and replaced it with new additional music programming. Starting May 2023, Radyo5 added new music blocks to its Saturday programming.
On November 4, 2024 at 5:00 AM, Favorite Music Radio 92.3 began its official broadcast with programming emanating from Diliman, Quezon City. Good Vibes Morning is its inaugural program on the station, with a relay simulcast on most NBC regional stations.
On Q1 of 2025, it began simulcasting Arangkada Balita newscast from PRTV Prime Media with most of its regional stations also followed suit.
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