The Securities and Exchange Commission (SEC) has upheld an earlier decision ordering the closure of Rappler, Inc., which was founded by veteran journalist Maria A. Ressa.
By Kyle Aristophere T. AtienzaThe Securities and Exchange Commission has upheld an earlier decision ordering the closure of Rappler, Inc., which was founded by veteran journalist Maria A. Ressa.
The newsroom’s parent firm “intentionally created an elaborate scheme” to cover an investment from foreign source Omidyar Network, the SEC alleged at the time. The organization is a “mass media entity that sold control to foreigners,” it as-serted. Rappler stands firm that the issuance of PDRs, which are financial instruments used by foreign investors to invest passively in a Philippine firm, does not equate to ownership or equity interest in the news company and its parent organiza-tion, Mr. Lim told a virtual news conference.
ABS-CBN, which survived the Martial Law regime of the late dictator Ferdinand E. Marcos, was forced off air in May 2020 after Mr. Duterte’s allies in Congress denied its franchise renewal bid. “Various news media organizations have toned down their reportage from time to time even if we should give credit to some brave journalists in the dominant media who still hold the line and sharpen the line,” he said in a Messenger chat.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ressa: SEC affirms order to shut down RapplerThe Securities and Exchange Commission (SEC) has affirmed its order revoking the incorporation papers of online news organisation Rappler, Inc. and Rappler Holdings Corporation (RHC) for violating the restrictions on foreign ownership in mass media. Read:
Read more »
Jeepney associations file appeal with LTFRB for new fare increase - BusinessWorld OnlineTransport groups are asking the Land Transportation Franchising and Regulatory Board (LTFRB) to allow jeepney operators and drivers to raise fares again, calling the last increase ordered in three regions inadequate. READ:
Read more »
Megawide: Anti-dummy case vs officials dismissed due to amended PSA - BusinessWorld OnlineMEGAWIDE Construction Corp. said on Tuesday that a court in Cebu had dismissed the criminal case filed against its officials for the alleged violation of the Anti-Dummy Law in connection with the operation of the Mactan-Cebu International Airport (MCIA).
Read more »
Abortion ruling casts cloud over usual cheer at US Pride parades - BusinessWorld OnlineNEW YORK/SAN FRANCISCO — People attending Pride celebrations hosted by LGBTQ+ (lesbian, gay, bisexual, transgender, queer/questioning) communities across the United States this weekend expressed outrage at the Supreme Court’s decision to overturn the constitutional right to abortion, and a wave of anti-transgender legislation. For more than 50 years, LGBTQ+ people and supporters have marched on […]
Read more »
Local stocks climb as bargain hunting continues - BusinessWorld OnlineThe benchmark Philippine Stock Exchange index (PSEi) rose by 106.59 points or 1.70% to close at 6,345.41 on Tuesday and the broader all shares index climbed by 48.21 points or 1.43% to 3,400.68. READ:
Read more »
Hobbling along - BusinessWorld OnlineThe country that every survey says Filipinos trust the most marked, on June 17, the 50th year of the 1972 Watergate scandal that led to the resignation of then US President Richard Nixon in 1974.
Read more »