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BY LUIS BUENAFLOR JR.
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January 19, 2018
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OUR SCHOOLCHILDREN are slowly dying. In fact 19 have already died because of Noynoy Aquino’s “Death by Dengvaxia “vaccination program.
Mayon volcano is about to or already erupting yet all that mainstream media and the “devotees to the cult of the yellow ribbon” are talking about is this: Rappler’s papers revoked for violating ban on foreign equity. Here’s a Manila Times report (Jan. 16, 2018):
“The Securities and Exchange Commission (SEC) has revoked the certificate of incorporation of news website Rappler for violating the Philippine Constitution’s foreign equity restrictions on mass media.
The En Banc finds Rappler Inc. and Rappler Holdings Corp., a Mass Media entity and its alter ego, liable for violating the constitutional and statutory Foreign Equity Restrictions in Mass Media, enforceable through laws and rules within the mandate of the Commission,” the SEC said in its decision dated January 11, released only on Monday.
Under Article XVI, Section 11(1) of the Philippine Constitution, and Section 2 of Presidential Decree 1018, ownership and management of mass media shall be limited to Filipino citizens, corporations, cooperatives, or associations.
“The Foreign Equity Restriction is very clear. Anything less than 100 percent Filipino control is a violation. Conversely, anything more than exactly zero percent foreign control is a violation,” the SEC said.
The SEC also voided Omidyar Network’s Philippine depositary receipts (PDRs), noting these were fraudulent transactions of the Securities Regulation Code.”
Meanwhile, in a press conference Rappler’s CEO Maria Ressa said press freedom is dead. Can anybody tell me if she was arrested during or after the press conference?
And here are excerpts from the official statement of the National Press Club of the Philippines or NPC through its President Paul M. Gutierrez released on Jan. 16:
Responsible Journalism’ means complying with the law
The National Press Club of the Philippines (NPC) believes that the exercise of press freedom in particular, and the freedom of expression in general, have not been affected nor threatened with the finding of the Securities and Exchange Commission (SEC) that online news platform Rappler, Inc., violated the strict constitutional provision on 100 percent control and ownership of mass media and its decision to close down the media outfit.
The SEC report, he added, clearly stated what was provided for in our Constitution and related laws and which Rappler also clearly violated:
“Where mass media is concerned, no (foreign) control whatsoever may be granted. 100 percent Filipino control means zero (“0”) foreign control. ‘Control’ is any influence over corporate policy, and not limited to ownership of stock.”
“As the SEC noted, Rappler breached this constitutional limit when it allowed Omidyar to exercise control over its corporate affairs as provided for in their internal agreement, in exchange for a fund infusion of US$ 1 million dollars”.
“To say that the fate of one media entity found to have run afoul with the law translates to media repression in the country is stretching the argument a bit too much,” Gutierrez said.
Moi read the 29-page decision of SEC several times and it was clear that Rappler indeed violated the law when it allowed a foreign entity particularly, Omidyar Network Fund LLC, to have control over “corporate matters.”
What was funny was Rappler’s defense that it was not a mass media entity based on their SEC papers that say they are a “property development and investment company”.
So what in the world is Pia Rañada Robles doing in the Malacañang Press Corps, selling condominiums to President Duterte?
The closure of Rappler by the SEC is not an assault to press freedom. But Rappler a “property development and investment company” pretending to be a mass media outfit is not only an insult but an attack to all legitimate practicing media persons and media outlets.
To say that you “stand with Rappler” does not mean you stand for press freedom but that you stand for a “property development and investment company” pretending to be a mass media entity that broke the law.
The people that now say they stand with Rappler are the very same people that hate President Rodrigo Duterte while the people that are rejoicing the closure of that “property development and investment company” pretending to be a mass media entity aka Rappler are also the same people that support President Duterte; there’s just more of them.
Maria Ressa’s Rappler is a failed business platform; they could not even raise funds to try to stop the financial bleeding. It is already in its dying throes; all that the SEC did was to perform euthanasia or mercy killing.
And just like Noynoy Aquino who blames everyone but himself for all his fiascos, Maria Ressa blamed the government for her failed Rappler in the fashion of a true “devotee to the cult of the yellow ribbon.”
Assault on press freedom, my foot! Rappler broke the law, the very constitution that former Chief Justice Hilario Davide is willing to die for. (brotherlouie16@gmail.com)/PN
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