Section 1. Nature and Scope of Franchise. —

Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the Cotabato Television Corporation, hereunder referred to as the grantee, its successors or assigns a franchise to construct, install, operate and maintain for commercial, educational and cultural purposes and in the public interest radio and television broadcasting stations in the City of Cotabato and the Provinces of Maguindanao, Sultan Kudarat, and North Cotabato with the corresponding technological auxiliaries or facilities, special broadcast and other program and distribution services and relay stations, and to install radio communication facilities for the grantee's private use in its broadcast services.