AN ACT RENEWING FOR ANOTHER TWENTY-FIVE (25) YEARS THE FRANCHISE GRANTED TO INTERCONTINENTAL BROADCASTING CORPORATION UNDER REPUBLIC ACT NO. 8954, ENTITLED "AN ACT GRANTING THE INTERCONTINENTAL BROADCASTING CORPORATION A FRANCHISE TO CONSTRUCT, INSTALL, ESTABLISH, OPERATE AND MAINTAIN RADIO AND TELEVISION BROADCASTING STATIONS IN THE PHILIPPINES

The Grantee shall hold the national, provincial, city, and municipal governments of the Philippines free from all claims, liabilities, demands, or actions arising out of accidents causing injury to persons or damage to properties, during the construction or operation of the stations of the Grantee. SEC. 9. Commitment to Provide and Promote the Creation of Employment Opportunities. - The Grantee shall create employment opportunities and accept on-the-job trainees in the franchise operations: Provided, That priority shall be accorded to the residents of the place where the principal office of the Grantee is located: Provided, further, That the Grantee shall comply with the applicable labor standards and allowance entitlement under existing labor laws, rules and regulations and similar issuances. A list of employment opportunities or jobs created by the Grantee shall be reflected in the General Information Sheet (GIS) to be submitted to the Securities and Exchange Commission (SEC) annually. The same list shall be submitted to the Department of Labor and Employment (DOLE). SEC. 10. Sales, Lease, Transfer, Grant of Usufruct, or Assignment of Franchise. - The Grantee shall not sell, lease, transfer, grant the usufruct of, nor assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or other commercial or legal entity, nor merge with any other corporations or entity, nor shall be controlling interest of the Grantee be transferred, simultaneously or contemporaneously, to any person, firm, company, corporation or entity without the prior approval of Congress. The Grantee shall inform Congress, through the Office of the Speaker of the House of Representatives and Office of the Senate President, of any sale, lease, transfer, grant of usufruct, or assignment of franchise or the rights and privileges acquired thereunder, or of the merger or transfer of the controlling interest of the Grantee, within sixty (60) days after the completion of the said transaction. Failure to report to Congress such change of ownership shall render the franchise ipso facto revoked. Any person or entity to which this franchise is sold, transferred, or assigned shall be subject to the same conditions, terms, restrictions, and limitations of this Act. SEC. 11. Dispersal of Ownership. - In accordance with the constitutional provision to encourage public participation in public utilities, the Grantee shall offer to Filipino citizens at least thirty percent (30%) of its outstanding capital stocks, or a higher percentage that may hereafter be provided by law, in any securities exchange in the Philippines within five (5) years from the effectivity of this Act: Provided, That in cases where public offer of shares is not applicable, other methods of encouraging public participation by citizens and corporations operating public utilities must be implemented. Noncompliance therewith shall render the franchise ipso facto revoked. SEC. 12. Reportorial Requirement. - The Grantee shall submit an annual report on its compliance with the terms and conditions of the franchise and on its operations to the Congress of the Philippines, through the Committee on Legislative Franchises of the House of Representatives and the Committee on Public Services of the Senate, on or before April 30 of every year during the term of its franchise. The annual report shall include an update on the commencement of activities, development, operation and expansion of business; audited financial statements; latest GIS officially submitted to the SEC, if applicable; certification of the NTC on the status of its permits and operations; and an update on the dispersal of ownership undertaking, if applicable. A reportorial compliance certificate issued by Congress shall required before any application for permit or certificate is accepted by the NTC. SEC. 13. Fine. - Failure of the Grantee to submit the requisite annual report to Congress shall be penalized by a fine of Five hundred pesos (P500.00) per working day of noncompliance to the NTC. The fine shall be collected separately from the reportorial penalties imposed by the NTC, and it shall be remitted to the Bureau of the Treasury. SEC. 14. Equality Clause. - Any advantage, favor, privilege, exemption or immunity granted under existing franchises, or which may hereafter be granted for radio and television broadcasting, upon prior review and approval of Congress, shall become part of this franchise and shall be accorded immediately and unconditionally to the herein Grantee: Provided, That the foregoing shall neither apply to nor affect the provisions of broadcasting franchises concerning territorial coverage, the term, or the type of service authorized by the franchise. SEC. 15. Repealability and Nonexclusivity Clause. - This franchise shall be subject to amendment, alteration, or repeal by Congress when the public interest so requires ad shall not be interpreted as an exclusive grant of the privileges herein provided for. SEC. 16. Separability Clause. - If any of the sections or provisions of this Act is held invalid, all other provisions not affected thereby shall remain valid. SEC. 17. Repealing Clause. - All laws, decrees, orders, resolutions, instructions, rules and regulations, and other issuances or parts thereof which are inconsistent with the provisions of this Act are hereby repealed, amended, or modified accordingly. SEC. 18. Effectivity. - This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation. Approved, (SGD.) FRANCIS "CHIZ" G. ESCUDERO (SGD.) FERDINAND MARTIN G. ROMUALDEZ President of the Senate Speaker of the House of Representatives This Act, which originated in the House of Representatives, was passed by the House of Representatives on January 31, 2023, amended by the Senate of the Philippines on January 27, 2025, and which amendment was concurred in by the House of Representatives on June 9, 2025. (SGD.) RENATO N. BANTUG, JR. (SGD.) REGINALD S. VELASCO Secretary of the Senate Secretary General House of Representatives Approved: OCT 03 2025 (SGD.) FERDINAND ROMUALDEZ MARCOS JR. President of the Philippines