Atty. Myrna Cruz-Feliciano
SEC Opinion • Securities and Exchange Commission • Opinions • Jul 15, 1991
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July 15, 1991 Atty. Myrna Cruz-Feliciano Cruz-Feliciano Law Offices 3rd Floor, Feliciano Bldg. 7426 Santillan, Makati, Metro Manila Dear Madam : This refers to your letter of July 12, 1991 requesting the restoration of the phrase "to undertake publishing works" in the Articles of Incorporation of WORD & LIFE, INC. which was deleted upon advice by the processing lawyer of the Corporate and Legal Department for the reason that not all incorporators/stockholders thereof are Filipinos. llcd You claim that the above-mentioned phrase need not be deleted since the purpose clause clearly states that the corporation will not engage in "mass media" where 100% Filipino ownership is required. The term "mass media" shall mean the gathering, transmission of news, information, messages, signals, and forms of written, oral and all visual communications and shall embrace the print medium , radio, television, film, movies, wire and radio communication services, advertising in all its phases, and their business managerial. (P.D. 36, as amended by P.D. 191 and 197) It embraces means of communications which reach and influence large number of people. It is divided into two groups: Print Media and Broadcast Media. "Print Media" includes all newspapers, periodicals, magazines, journals and publications and all advertising therein, and billboards, neon signs and the like. (Sec. 2, P.D. 576) The term "mass media" in the Constitution refers to any medium of communication, a newspaper, radio, motion pictures, television, designed to reach the masses and that tends to set the standards, ideals and aims of the masses. (Op. 163, S. 1973, Minister of Justice) " Publishing works " is a very broad activity which may cover the business of operating "mass media" as defined above under the category of "print media" which include publication of newspapers, periodicals, magazines, journals and other forms of publications for distribution or dissemination to the public. Thus, while there is already a statement in the purpose clause that the Corporation will not engage in "mass media", the applicant was advised to delete the phrase in order to avoid possible deception or confusion that may arise by the use of the questioned phrase. In view of the foregoing, your request is hereby denied. Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman
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