MANILA, Philippines — Franchise extension bills for two major companies of tycoon Manny V. Pangilinan are now off to the Senate floor after getting a final nod from the House of Representatives. Before going on break on Thursday, House lawmakers approved on third and final reading House Bills 8970 and 8977 which would extend by 25 year each the legislative licenses of Smart Broadband Inc. and Cignal TV, respectively. On the other hand, Cignal TV, formerly GV Broadcasting System Inc., see its current license lapse in March 2023 if not extended by Congress. Both franchise bills will still need to hurdle the Senate, before getting to the president’s desk for enactment. The enactment of the franchise bills would be crucial in ensuring Pangilinan’s two major ventures can proceed with their pandemic recovery unhampered.

Source: Philippine Star March 25, 2021 05:45 UTC