Rappler's Case: The Case Of Rappler, Inc.
The Rappler’s case that led for the SEC to revoke its registration as a corporation pointed to, according to SEC, its violation on the rules on foreign investment in media companies in the Philippines. Under the 1987 Constitution and various Philippine laws, a media company must be owned and controlled 100% by Filipinos. If a Philippine media company has foreign investor control of more than 0% of the company, then the media company disobey the law related to control restrictions. The case of Rappler is not about accepting foreign investment thru the Philippine Depositary Receipts (PDRs), a derivative instrument that derive their value from equity, by its mother company Rappler Holdings Corporation which owns almost 99% of Rappler, Inc, but
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Rappler’s legal issues were triggered by its criticisms and commentaries of President Duterte and his administration policies. The President has aired a lot of times that he finds these criticisms unfair, and that he will not take them for granted. Rappler’s revoking of its SEC registration is a clear pattern under the incumbent administration. In the same gesture, the President has repeatedly cautioned the owners of other media agencies like the Inquirer and the ABS-CBN that, If they continue to judge him and his administration from a high moral perch, they have to be prepared to account for their potential violations in due time. Rappler’s persecution succeeds the case regarding Inquirer owners procedurally found themselves facing charges of nonpayment of accurate taxes on their businesses, and occupying government property after the lease on the land has expired. The effect of government’s refusal to extend the lease contract, the owner- Prietos were advise to vacate the land that they had developed and occupied for more than 25 years. And this was followed by a decision to engage in talks for the sale of the Inquirer. Similarly, the President has repeatedly warned ABS-CBN for airing allegedly biased reports against him during the 2016 Presidential Election and accused the management of the Lopez-owned media company of failing to air his advertisements during the election campaign after it took the now President’s money paid for such ads. He has implied that he remember this when the ABS CBN network applies to the renewal of their franchise in 2020. Then, it is Rappler’s turn to be on the hotter seat. The issue that was raised against Rappler by the Solicitor General thru a letter sent to the Securities and Exchange Commission arise from a constitutional provision that requires media companies to be 100-percent-owned and -controlled by Filipinos. The question focuses on
Rappler’s legal issues were triggered by its criticisms and commentaries of President Duterte and his administration policies. The President has aired a lot of times that he finds these criticisms unfair, and that he will not take them for granted. Rappler’s revoking of its SEC registration is a clear pattern under the incumbent administration. In the same gesture, the President has repeatedly cautioned the owners of other media agencies like the Inquirer and the ABS-CBN that, If they continue to judge him and his administration from a high moral perch, they have to be prepared to account for their potential violations in due time. Rappler’s persecution succeeds the case regarding Inquirer owners procedurally found themselves facing charges of nonpayment of accurate taxes on their businesses, and occupying government property after the lease on the land has expired. The effect of government’s refusal to extend the lease contract, the owner- Prietos were advise to vacate the land that they had developed and occupied for more than 25 years. And this was followed by a decision to engage in talks for the sale of the Inquirer. Similarly, the President has repeatedly warned ABS-CBN for airing allegedly biased reports against him during the 2016 Presidential Election and accused the management of the Lopez-owned media company of failing to air his advertisements during the election campaign after it took the now President’s money paid for such ads. He has implied that he remember this when the ABS CBN network applies to the renewal of their franchise in 2020. Then, it is Rappler’s turn to be on the hotter seat. The issue that was raised against Rappler by the Solicitor General thru a letter sent to the Securities and Exchange Commission arise from a constitutional provision that requires media companies to be 100-percent-owned and -controlled by Filipinos. The question focuses on