PRESIDENT Rodrigo R. Duterte has signed into law extending the franchise of GMA Network, Inc. for another 25 years.
Mr. Duterte on April 21 signed Republic Act (RA) No. 10925, which grants the renewal of franchise of Republic Broadcasting System, Inc., now known as GMA Network, Inc.
The law requires GMA Network to provide free public service time -- equivalent of 10% of all its ad time -- to the government to relay important public announcements and warnings.
The network is also required to make closed captioning available for its programs.
“The franchise shall be subject to amendment, alteration, or repeal by the Congress of the Philippines when the public interest requires and shall not be interpreted as an exclusive grant of the privileges herein provided for,” RA 10925 read.
“The grantee, its successors or assignees shall comply with the applicable labor standards under existing labor laws, rules and regulations and such other issuance as may be promulgated by the Department of Labor and Employment, taking into consideration the nature and peculiarities of the broadcast industry,” the law added.
GMA Network reported its net income surged 72% to an all-time high of P3.64 billion in 2016, on the back of an “outstanding performance in sales” and “managed growth in total spending” in an election year.
Total revenues went up 21% to P16.67 billion last year, which include about P1.5 billion in election-related placements.
“The boost from the national elections held during the first half of the year coupled by the upbeat turnout from regular advertising placements buoyed the Company’s top line for the twelve month-period ended Dec. 31 this year,” the company said in a regulatory filing. -- I.N.P. Cigaral
Mr. Duterte on April 21 signed Republic Act (RA) No. 10925, which grants the renewal of franchise of Republic Broadcasting System, Inc., now known as GMA Network, Inc.
The law requires GMA Network to provide free public service time -- equivalent of 10% of all its ad time -- to the government to relay important public announcements and warnings.
The network is also required to make closed captioning available for its programs.
“The franchise shall be subject to amendment, alteration, or repeal by the Congress of the Philippines when the public interest requires and shall not be interpreted as an exclusive grant of the privileges herein provided for,” RA 10925 read.
“The grantee, its successors or assignees shall comply with the applicable labor standards under existing labor laws, rules and regulations and such other issuance as may be promulgated by the Department of Labor and Employment, taking into consideration the nature and peculiarities of the broadcast industry,” the law added.
GMA Network reported its net income surged 72% to an all-time high of P3.64 billion in 2016, on the back of an “outstanding performance in sales” and “managed growth in total spending” in an election year.
Total revenues went up 21% to P16.67 billion last year, which include about P1.5 billion in election-related placements.
“The boost from the national elections held during the first half of the year coupled by the upbeat turnout from regular advertising placements buoyed the Company’s top line for the twelve month-period ended Dec. 31 this year,” the company said in a regulatory filing. -- I.N.P. Cigaral
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