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    SEC Vs Rappler

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    Mia Adlawan
    The SEC revoked the business license of online news site Rappler, claiming it violated the Philippine constitution's restriction of foreign ownership of mass media. Rappler denied this, stating its funding from Omidyar Network was through financial instruments that do not give foreigners control. The revocation sparked outrage from press freedom groups and other journalists. However, the National Press Club stated that despite supporting Rappler's right to appeal, one media entity found to break the law does not necessarily threaten broader press freedom as hundreds of other outlets operate freely. Responsible journalism also requires complying with laws.

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    SEC Vs Rappler

    Uploaded by

    Mia Adlawan
    99 views2 pages
    The SEC revoked the business license of online news site Rappler, claiming it violated the Philippine constitution's restriction of foreign ownership of mass media. Rappler denied this, stating its funding from Omidyar Network was through financial instruments that do not give foreigners control. The revocation sparked outrage from press freedom groups and other journalists. However, the National Press Club stated that despite supporting Rappler's right to appeal, one media entity found to break the law does not necessarily threaten broader press freedom as hundreds of other outlets operate freely. Responsible journalism also requires complying with laws.

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    SEC vs Rappler

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    The SEC revoked the business license of online news site Rappler, claiming it violated the Philippine constitution's restriction of foreign ownership of mass media. Rappler denied this, stating its funding from Omidyar Network was through financial instruments that do not give foreigners control. The revocation sparked outrage from press freedom groups and other journalists. However, the National Press Club stated that despite supporting Rappler's right to appeal, one media entity found to break the law does not necessarily threaten broader press freedom as hundreds of other outlets operate freely. Responsible journalism also requires complying with laws.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    99 views2 pages

    SEC Vs Rappler

    Uploaded by

    Mia Adlawan
    The SEC revoked the business license of online news site Rappler, claiming it violated the Philippine constitution's restriction of foreign ownership of mass media. Rappler denied this, stating its funding from Omidyar Network was through financial instruments that do not give foreigners control. The revocation sparked outrage from press freedom groups and other journalists. However, the National Press Club stated that despite supporting Rappler's right to appeal, one media entity found to break the law does not necessarily threaten broader press freedom as hundreds of other outlets operate freely. Responsible journalism also requires complying with laws.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    SEC vs Rappler

    By: Mia A. Adlawan

    AROUND early January, the Securities and Exchange Commission (SEC) ordered the revocation of online
    news website Rappler’s business registration over questions on foreign ownership that the site has long
    addressed.

    Rappler “sold control to foreigners,” the SEC said in a resolution dated January 11.

    “The [SEC] En Banc finds Rappler, Incorporated and Rappler Holdings Corporation, a Mass Media Entity
    and its alter ego, liable for violating the constitutional and stator Foreign Equity Restriction in Mass
    Media, enforceable through laws and rules within the mandate of the commission,” the SEC order reads.

    But as for the news website, it denied the SEC’s claim that Omidyar Network, a fund created by eBay
    and entrepreneur Pierre Omidyar, controlled its operation.

    Rappler has contended that its funding from Omidyar Network is through Philippine Depositary Receipts
    (PDR).

    Contrarily speaking, President Rodrigo Duterte’s State of the Nation Address in July 2017 emphasized
    that it is owned by foreigners and that it should be investigated.

    Furthermore, the news website argued in its report on the SEC decision that a PDR is a financial
    instrument that does not give the owner voting rights in the board or a say in the management or day-
    to-day operations of the company and that several large media companies have PDR.

    “They invest, but they don’t own. Rappler remains 100-percent Filipino-owned,” it said, referring to its
    statement issued in July 2016.

    The SEC’s kill order revoking Rappler’s license to operate is the first of its kind in history – both for the
    Commission and for the Philippine media.

    With the issue at hand, Rappler released a statement after the decision was released, calling on the
    public to defend press freedom.

    The National Union of Journalists of the Philippines (NUJP) expressed an outrage at the revocation of the
    news website’s business registration.

    NUJP said Duterte’s threat to have Rappler investigated was one of many that the president has made
    against media perceived critical of the administration such as the Philippine Daily Inquirer and broadcast
    network ABS-CBN, whose franchise renewal he threatened to block.

    The NUJP said it "declares its full support to Rappler and all other independent media outfits that the
    state has threatened and may threaten to shut down."

    It also called on "all Filipino journalists to unite and resist every and all attempts to silence us."
    While in the statement of the National Press Club (NPC), press freedom is not curtailed by the SEC
    decision on Rappler.

    “In the broader Philippine media industry, Rappler is just one among the thousands of media entities in
    the country and whose operations have remained free," NPC President Paul Gutierrez said.

    In the press statement, the NPC believed that the exercise of press freedom in particular, and the
    freedom of expression, have not been affected nor threatened with the findings of SEC that online news
    website violated the strict constitutional provision 100 percent control and ownership of mass media
    and its decision to close down the media outfit.

    According to Gutierrez, the NPC purposely delayed the release of their statement regarding the matter
    to thoroughly read the entire decision in order for it to not be swayed by the prevailing emotion of the
    moment.

    As NUJP stands behind Rappler’s press freedom, NPC emphasized that there are 436 television
    broadcast stations, 411 AM radio stations, over 1,000 FM radio station, more than 400 newspapers, and
    countless bloggers continue to operate freely.

    “To say that the fate of one media entity found to have run afoul with the law translates to media
    repression in the county is stretching the argument a bit too much,” Gutierrez said.

    “Responsible journalism also means complying with the law,” he added.

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