Nature and Scope of Franchise.
Section 1
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 Bicol Broadcasting Systems, Inc. (BBSI), hereunder referred to as the grantee, its successors or assigns, a franchise to construct, install, operate and maintain, for commercial purposes and in the public interest, radio and television broadcasting stations in Region V with the corresponding technological auxiliaries or facilities, special broadcast and other program and distribution services and relay stations.