Section 1Sec./Art. 1

Nature and Scope of Franchise. - Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the Image Broadcasting Corp., hereunder referred to as the grantee, its successors or assigns, a franchise to construct, install, establish operate and maintain for commercial purposes and in the public interest, radio and/or television broadcasting stations throughout the Island of Mindanao, where frequencies and/or channels are still available for radio and/or television broadcasting, with the corresponding technological auxiliaries or ties, special broadcast and other program and distribution services and relay stations.