It was, during that very historic event in national history, initially called as New TV 4 but later rebranded as People's Television (PTV) two months later in April. Broadcasters Tina Monzón-Palma and José Mari Vélez were tapped by President Corazon Aquino to handle the newly rebranded station for a few months, before they returned to GMA 7. It later became the national network for the broadcasts of the 1988 Summer Olympics along with RPN. On March 26, 1992, President Cory Aquino signed Republic Act 7306 turning PTV Network into a government corporation known formally as People's Television Network, Inc. The law also grants its congressional franchise for a period co-terminus with its corporate existence. Under Philippine law, no broadcast company can operate without franchise from the Philippine congress, an authority that limits and regulates operations of telecommunications and broadcast media such as televisions and radios. Shortly after he took over the mantle of government in June 1992, President Fidel V. Ramos appointed PTV Network's first board of directors. The Network was given a one-time equity funding for capital outlay. Since 1992, PTV has been operating on revenues it generates on its own. Republic Act 7306 stipulates that the government shall not appropriate funds for the operations of the Network . In 1992, PTNI went on full nationwide satellite broadcast using PALAPA C2. Its flagship station PTV-4, which is based in Quezon City, boasts of a 40-kilowatt brand-new transmitter facility sitting on a tower. With its 32 provincial stations across the country, the network has extended its reach and coverage to approximately 85 percent of the television viewing public nationwide. PTNI was given the Hall of Fame Award for Best Station and for Most Balanced Programming in 1987 and the Catholic Mass Media Awards in the two succeeding years after. It has aired several pioneering and award-winning educational, cultural and public service programs for their relevance and production excellence. In 1996, PTV won the award for Best TV Station ID ("Ang Network Para Sa Pilipino" [lit. The Network For The Filipino]) in the PMPC Star Awards for Television. PTNI has pioneered educational and cultural programming. Some of its award-winning programs were Tele-aralan ng Kakayahan (which predated ABS-CBN's The Knowledge Channel by decades), Ating Alamin, Small World and its successor Kidsongs, For Art's Sake, Coast to Coast and Paco Park Presents. In the 1990s, at the core of its educational programming is