Section 1
SECTION 1. Subject to the provisions of the Constitution, the Manila Times Publishing Company is hereby granted franchise which shall continue in force during the time 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 and television stations in the Philippines: Provided, That this franchise shall be void unless the construction of at least one radio broadcasting or 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 and television stations, 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 of obscene or indecent language or speech, 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.