Section 1
SECTION 1. Subject to the provisions of the Constitution, the Manila Chronicle is hereby granted a permit, which shall continue in force during the time that the Government has not established similar service at the places selected by the grantee, to construct, maintain and operate, for commercial purposes and in the public interest, radio broadcasting stations and stations for television in the Philippines: Provided, That this permit shall be void unless the construction of at least one radio broadcasting station or one television station be begun within two years from the date of approval of this Act, and be completed within four years from said date: Provided, further, That the grantee shall provide adequate public service time to enable the Government, through the said radio broadcasting stations and stations for television, to reach the population on important public issues; shall assist in the functions of public information and education; shall conform to the ethics of honest enterprise; and shall not use its stations for the broadcasting and/or telecasting of obscene or indecent language, speech, act or scene, or for the dissemination of deliberately false information or willful, misrepresentation, or to the detriment of the public health, or to incite, encourage, or assist in subversive or treasonable acts.