March 04 2020
GMA Network, Inc. clarifies the case of its franchise renewal as it has been cited several times recently in light of the current situation of fellow broadcast network, ABS-CBN.
Formerly known as Republic Broadcasting System, Inc., GMA Network obtained its original 25-year franchise through Republic Act No. 7252 or “An Act Granting the Republic Broadcasting System, Inc. a Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations in the Philippines.”
The said act was signed into law on March 20, 1992; became effective on May 12, 1992 – fifteen (15) days after its publication in the Official Gazette on April 27, 1992; and as such, was valid until May 12, 2017.
On April 21, 2017 – 22 days prior to the expiry of the original franchise – President Rodrigo Duterte signed Republic Act No. 10925 or “An Act Renewing For Another Twenty-Five (25) Years The Franchise Granted To Republic Broadcasting System, Inc., Presently Known As GMA Network, Inc., Amending For The Purpose Republic Act No. 7252, Entitled An Act Granting The Republic Broadcasting System, Inc. a Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations in the Philippines.”
Given this, it is important to note that that there is no parity of circumstances between the two broadcast networks. And that there is no truth to statements claiming that GMA continued its operations despite the expiration of its franchise, which was in fact renewed earlier than its expiry date.
EXCOM approval to set the date, time, manner as well as the record date for the Annual Stockholders’ Meeting for the year 2020.