in , ,

Bohol Chronicle Radio Corporation claims its franchise is not more than 50 years old, but records show otherwise

Bohol Chronicle Radio Corp. claims its franchise is not more than 50 yrs old, refuting an ABS-CBN News report last week about franchises authored by Rep. Rodante Marcoleta.

Bohol Chronicle Radio Corporation was listed by the ABS-CBN as among those broadcast companies whose franchise was authored by SAGIP Partylist RodanteMarcoleta and who obtained their first franchise more than 50 years ago.

Marcoleta was one of the lawmakers who refused to grant ABS-CBN’s franchise renewal for allegedly violating the 50-year rule as provided by the Constitution (a rule which he misinterpreted). But the said network denied going beyond the 50-year mark.

Bohol Chronicle, through their legal counsel Jay Dejaresco, denied the claim of ABS-CBN as it was evidenced by the Securities and Exchange Commission (SEC) document which shows that the said radio company was only registered on January 21, 1991.

This counters the allegations of ABS-CBN since BCRC only existed in 1991, meaning that the radio company only existed for 29 years. Because of this, The Bohol Chronicle called out ABS-CBN on June 10 for the false report.

BCRC was not the only company mentioned but also includes Catholic Bishops’ Conference of the Philippines, Rajah Broadcasting Network, Associated Broadcasting Company or TV5, and GMA Network.

ABS-CBN clarified that it did not claim that BCRC was founded more than 50 years, but that it has secured its franchise more than 50 years ago.

This was when Ziolo Dejaresco, Jr., BCRC’s founder, was granted the franchise on July 24, 1966 or Republic Act 4792. It was on July 24, 1992 that all his properties and rights were transferred to the BCRC where RA 7634 is described as “An Act Authorizing the Transfer and Assignment to the Bohol Chronicle Radio Corporation of the Franchise to Construct, Operate and Maintain Television and Radio Broadcasting Stations in the Province of Bohol Granted Under Republic Act Numbered Forty-Seven Hundred and Ninety-Two to Zoilo Dejaresco, Jr. and All the Properties and Rights Acquired Thereunder of Zoilo Dejaresco, Jr., and RENEWING the Terms of the Said Franchise to Another Twenty-Five (25) Years From the Date of Effectivity of This Act.”

Since the BCRC was registered as a corporation in 1991 and the transfer was made in 1992, then it would appear that the transfer happened more or less than a year after its registration to the SEC.



Therefore, from the said RA 7634, it shows that the franchise of BCRC can be traced back to the year 1966 when the said republic act mentions the renewal of the terms of the franchise to another 25 years from the date of its effectivity. Simply put, the BCRC franchise originated in 1966 and was granted to its founder Zoilo Dejasresco, Jr.

Comments

‘Watdapak?!?! So support o suicide??’ K Brosas slams Candon City Police station’s poor advocacy on Anti-Terrorism Bill

Shopee kicks off Shopee Live Mega Festival featuring Kim Chiu, JC de Vera, Bela Padilla, and Marco Gumabao