On October 29, 1961, the company launched its first television station, RBS TV Channel 7 using local VHF channel 7. In 1963, DYSS Television was launched in Cebu. From Loreto F. de Hemedes, Inc., the firm was formally renamed to Republic Broadcasting System, Inc. in 1974, when a triumvirate composed of Gilberto Duavit Sr., Menardo Jimenez and Felipe Gozon took over the corporation. In 1987, GMA became the first Philippine network to broadcast in "StereoVision" while opening their high-end live studio at Broadway Centrum. In 1988, the network greatly improved its signal by switching to its 777-ft transmitter known as the Tower of Power. In 1992, the network launched the Rainbow Satellite, making their programs available nationwide and across Southeast Asia. In 1996, the company changed its corporate identity to GMA Network Inc.