Philippine president approves law revitalizing state television network

Philippine President Benigno S. Aquino III has signed a law that revitalizes the cash-strapped state-owned television network.Presidential Communications Operations Office Secretary Herminio Coloma said Wednesday that Aquino approved Republic Act No. 103901 or \"An Act Revitalizing the People\'s Television Network, Incorporated (PTV-4)\".The new law provides for the infusion by government of fresh capitalization amounting to 5 billion pesos (122.97 million U.S. dollars) and gives the network the authority to collect commercial revenues to sustain its operations. It also mandates the creation of an advisory council, composed of representatives from various sectors, such as media, advertising, academe, youth and students, business and labor.Coloma assured that the PTV-4 will not compete directly with the private television networks since its programming will focus on news and public information.The passage of a new law was one of the priority measures that the Aquino administration pushed through.Coloma said when Aquino assumed the post by mid-2010, PTV4 was in \"financial hemorrhage\" and that its capitalization had been \" fully depleted.\"