Section 1Sec./Art. 1

Nature and Scope of Franchise. - Subject to the provisions of the Constitution and applicable laws, rules and regulations, the franchise granted to the Manila Broadcasting Company under Republic Act No. 7816, entitled "An Act Granting the Manila Broadcasting Company a Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations Within the Philippines, and for Other Purposes", hereunder referred to as the grantee, its successors or assignees to construct, install, operate and maintain for commercial purposes and in the public interest radio and television broadcasting stations in the Philippines with the corresponding technological auxiliaries or facilities, special broadcast and other broadcast distribution services and relay stations, and to construct, install, operate and maintain communication facilities for the grantee's private use in its broadcast services and relay stations in the Philippines, is hereby renewed for another twenty-five (25) years from the approval of this Act.