GMA Network Statement on 50-Year Franchise Issue
GMA Network has consistently complied with all requirements related to its 70 years of operations.
The Network, which started its corporate existence in 1950 as Loreto F. de Hemedes, Inc. (later changed to Republic Broadcast System or RBS), first obtained a franchise under Act No. 3846 and later under Presidential Decree 576-A. It had amended its original Articles of Incorporation to extend its corporate life pursuant to the Corporation Code of the Philippines.
In 1992, pursuant to the 1987 Constitution, RBS was granted a new 25-year franchise to operate under Republic Act No. 7252. In 2017, the franchise of RBS, presently known as GMA, was renewed for another 25 years under Republic Act No. 10925. It is important to clarify that in both instances, GMA was granted by law 25 years each to operate its radio and television business which do not exceed 50 years.— Source: GMANEWS