It will continue to be on the air for the next two-and-a-half decades.
In a statement, Malacañang said that President Ferdinand Marcos Jr. has signed Republic Act No. 12311 into law, which is a measure that renews the legislative franchise of the Intercontinental Broadcasting Corp. (IBC), a government-sequestered television network, for another 25 years.
Under the law, IBC, which is under the Presidential Communications Office (PCO), is authorized to construct, install, establish, operate, and maintain radio and television broadcasting stations throughout the Philippines—including digital television systems and other emerging broadcast technologies—for commercial purposes and in the public interest.
The law also mandated the broadcast company to secure the necessary permits and licenses from the National Telecommunications Commission (NTC).
In addition, the act also emphasized the network’s responsibility to “provide adequate public service time, promote balanced and child-friendly programming, and support the government’s public information and education efforts.”
Meanwhile, “in times of national emergency, calamity, or public peril, the law also reserves the President’s authority to temporarily take over or suspend the operations of the network in the interest of public safety and welfare.”
IBC is also tasked to create employment opportunities, comply with labor standards, and ensure transparency through annual reporting to Congress on its operations, financial performance, and ownership structure.
As it is the case for other broadcast companies with franchise, IBC must also offer at least 30% of its outstanding capital stock to Filipino citizens within five years from the effectivity of the law.
IBC was launched in the 1960s and rose to the top of the TV ratings chart in the 1970s, where it battled it out with sister stations owned by crony Roberto Benedicto like BBC/City2 and RPN-9.
In 1986, following the EDSA People Power Revolution, IBC was sequestered by the government, where it has seen repeaged rises and falls—including its multiple bids for its privatization.
At present, it remains as of the two TV networks under the purview of the PCO, with the other being the People’s Television Network (PTV).