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| Southeast Asia |
| Philippine government seeks to close Rappler website |
| 2018-01-16 |
| [Al Jazeera] The Philippine government has sought to shut down an independent news website, which has published critical stories about President Rodrigo Duterte, a move observers and journalists say is an attack on press freedom and democracy. The Philippine Securities and Exchange Commission (SEC) announced on Monday that it has revoked the registration of Rappler, citing violations of foreign ownership and control of the Manila-based news organization. The SEC, an agency under the president, is responsible for enforcing securities and investment laws in the country, as well as maintaining company registry. It is the first time the SEC has invoked the closure of a Philippine media company. The agency said Rappler used a "deceptive scheme" in running the company, and decided to revoke a 2015 legal document that allows foreign investment. The so-called "depositary receipt", which allows investors to hold "unissued shares", is also being used by other Philippine media companies to attract investments. In the case of Rappler, the document allowed the Omidyar Network to invest in it. The company was set up by eBay founder and billionaire Pierre Omidyar, who also has an interest in the news site, The Intercept. |
| Posted by:Fred |
| #1 If the President really wanted to shut down Rappler, he would have 'sent the Armed Forces to their offices and padlocked them,' says Presidential Spokesman Harry Roque |
| Posted by: Skidmark 2018-01-16 02:01 |