Section 1
SECTION 1. Nature and Scope of Franchise. ~ Subject to the provisions of the Philippine Constitution and applicable laws, rules and regulations, the franchise granted to Beta Broadcasting System, Inc., here under referred to as the grantee, its successors or assignees under Republic Act No. 8026, to construct, install, establish, operate, and maintain for commercial purposes and in the public interest, radio broadcasting stations in the Island of Luzon, where frequencies are still available for radio broadcasting, through microwave, satellite, terrestrial or whatever means, as well as the use of any new technology in radio system, with the corresponding auxiliaries and facilities, special broadcast, and other program and distribution services and relay stations, is hereby renewed for another twenty-five (25) years from the effectivity of this Act.