In re First United Broadcasting Corp.

February 19, 2008 SEC EN BANC CASE NO. 11-07-0295 IN THE MATTER OF FIRST UNITED BROADCASTING CORPORATION (SEC REG. NO. 77569) , petitioner. FOR: LIFTING OF ORDER OF REVOCATION O R D E R Petitioner is a stock corporation registered with the Commission on 17 January 1978 primarily to engage in radio and television broadcasting in any part of the Philippines. cSaATC On 11 August 2003, petitioner's Certificate of Registration No. 77569 was revoked for non-compliance with the Commission's reportorial requirements, pursuant to the Order of Revocation dated 8 July 2003 which was published in a newspaper of general circulation on 11 July 2003. Petitioner now prays for the setting aside of the said Order of Revocation based on the ground that if its business is regularized by such setting aside, it can actively assist in reviving the dying industry of localized broadcasting in the Philippines, and consequently, to financially assist its current and previous employees. In support of its Petition, petitioner submitted the following: 1. 2006 Income Tax Return; 2. Business Permit issued on 27 November 2007; 3. Republic Act No. 8079 entitled An Act Granting The First United Broadcasting Corporation (FUBC) A Franchise To Construct, Install, Operate And Maintain For Commercial Purposes Radio And Television Broadcasting Stations Anywhere In The Philippines, And For Other Purposes ; and IEHTaA 4. Republic Act No. 8699 entitled An Act Amending Republic Act No. 8079 Entitled "An Act Granting The First United Broadcasting Corporation (FUBC) A Franchise To Construct, Install, Operate And Maintain For Commercial Purposes Radio And Television Broadcasting Stations Anywhere In The Philippines, And For Other Purposes". Petitioner alleges that it intends to continue its operations as evidenced by its submission of its 2007 General Information Sheet and Financial Statements as of 31 December 2006. It further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also paid in full the total amount of penalty of Six Thousand Five Hundred Pesos (Php6,500.00) as assessed by the Law and Regulation Division (LRD) of the Company Registration and Monitoring Department (CRMD) and evidenced by Official Receipt No. 0103581. HCTEDa Accordingly, petitioner is hereby directed to submit its 2008 Mayor's/Business Permit and its 2008 General Information Sheet within thirty (30) days from date of receipt of this Order. Failure on the part of petitioner to comply with this directive shall cause the recall of the instant Order. WHEREFORE, premises considered, the Order of the Commission dated 8 July 2003 revoking the Certificate of Registration of FIRST UNITED BROADCASTING CORPORATION is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. TAESDH SO ORDERED. Mandaluyong City. February 19, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on official leave THADDEUS E. VENTURANZA Commissioner