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REPUBLIC ACT NO. 7295 - AN ACT
GRANTING THE BRIGHT STAR BROADCASTING NETWORK CORPORATION A FRANCHISE
TO CONSTRUCT, INSTALL, OPERATE AND MAINTAIN FOR COMMERCIAL PURPOSES
RADIO AND TELEVISION BROADCASTING STATIONS IN THE PHILIPPINES AND FOR
OTHER PURPOSES Section 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 Bright Star Broadcasting Network Corporation, its successors or assigns and hereunder referred to as the grantee, a franchise 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 install radio communication facilities for the grantee's private use in its broadcast services. Sec. 2. Manner of Operation of Stations of Facilities. — The stations or facilities of the grantee shall be constructed and operated in a manner as will at most result only in the minimum interference on the wavelengths or frequencies of the existing stations or other stations which may be established by law. Sec. 3. Prior Approval of the National Telecommunications Commission. — The grantee shall secure from the National Telecommunications Commission the appropriate permits and licenses for its stations and shall not use any frequency in the radio/television spectrum without having been authorized by the Commission. The Commission, however, shall not unreasonably withhold or delay the grant of any such authority. Sec. 4. Responsibility to the Public. — The grantee shall provide reasonable public service time to enable the Government, through the said broadcasting stations, to reach the population on important public issues; provide at all times sound and balanced programming; promote public participation such as in community programming; assist in the functions of public information and education; conform to the ethics of honest enterprise; and not use its stations for the broadcasting of obscene and indecent language, speech, act or scene, or for the dissemination of deliberately false information or willful misrepresentation to the detriment of the public interest, or to incite, encourage, or assist in subversive or treasonable acts. Sec. 5. Right of Government. — The President of the Philippines, in times of rebellion public peril, calamity, emergency, disaster or disturbance of peace and order, may temporarily take over and operate the stations of the grantee, temporarily suspend the operation of any station and the interest of public safety, security and public welfare, or authorize the temporary use and operation thereof by any agency of the Government, upon due compensation to the grantee, for the use of said stations during the period when they shall be so operated. Sec. 6. Term of Franchise. — This franchise shall be for a term of twenty-five (25) years from the date of approval of this Act, unless sooner revoked or canceled. In the event the grantee fails to operate continuously for two (2) years, this franchise shall be deemed ipso facto revoked. Sec. 7. Acceptance and Compliance. — Acceptance of this franchise shall be given in writing within sixty (60) days after approval of this Act. Refusal or failure to accept the franchise or to operate within the prescribed period shall render the franchise void. Sec. 8. Tax Provisions. — The grantee, its
successors or assigns shall be liable to pay the same taxes on their
real estate, buildings and personal property, exclusive of this
franchise, as other persons or corporations which are now or hereafter
may be required by law to pay. In addition thereto, the grantee, its
successors or assigns shall pay a franchise tax equivalent to three
percent (3%) of all gross receipts of the radio/television business
transacted under this franchise by the grantee, its successor or
assigns and the said percentage shall be in lieu of all taxes on this
franchise or earnings thereof: provided, that the grantee, its
successors or assigns shall continue to be liable for income taxes
payable under Title II of the National Internal Revenue Code pursuant
to Sec. 2 of Executive Order No. 72 unless the latter enactment is
amended or repealed, in which case the amendment or repeal shall be
applicable thereto. Sec. 9. Public Ownership. — In compliance with the
constitutional mandate to democratize ownership of public utilities,
the herein grantee shall make public offering through the stock
exchanges of at least thirty percent (30%) of its common stocks within
a period of three (3) years from the date of effectivity of this Act
Provided, that no single person or entity shall be allowed to own more
than five percent (5%) of the stock offerings. Approved: March 26, 1992 |
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