Section 1Sec./Art. 1

Nature and Scope of Franchise. - Subject to the provisions of the Constitution, laws, rules, decrees, orders and regulations not inconsistent herewith, there is hereby granted to GV Broadcasting System, Inc., hereinafter referred to as the grantee, its heirs, successors or assigns, a franchise to construct, install, operate and maintain for commercial purposes and in the public interest, radio broadcasting stations in the island of Luzon with the corresponding improvements and innovations thereof including but not limited to availment of relevant facilities or technology as would render effective and would maximize the efficiency of the services.