Did SolGen seek SEC probe into Rappler? | ABS-CBN

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Did SolGen seek SEC probe into Rappler?

Did SolGen seek SEC probe into Rappler?

Trishia Billones,

ABS-CBN News

 | 

Updated Jan 16, 2018 02:16 PM PHT

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MANILA - Officials seem to be at odds on whether or not the government, through the solicitor general, sought an investigation into news site Rappler.

The Securities and Exchange Commission said Rappler violated the constitutional restriction on foreign ownership of mass media after selling Philippine depositary receipts that allowed its holders to have prior approval when it comes to changing the articles of incorporation or bylaws of the company.

The website management said Omidyar Network and North Base Media "do not own" the company, even if they hold PDRs

Presidential Spokesperson Harry Roque, who denied Malacañang had a hand in the SEC decision, said the regulator was "already looking into the matter when they got a request from the Solicitor-General to inquire into this matter."

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He said the investigation into Rappler came at the heels of the Supreme Court decision on the "true meaning of the 60-40 as far as telecom companies are concerned" in relation to a case involving PLDT Inc.

"This was not in isolation. This was in the context really of the SEC exercising its mandate, ruling on the true meaning of the constitutional prohibitions and the Supreme Court later on affirming earlier decisions of SEC. They have expertise in this regard," he told ANC's Headstart.

However, in a separate interview, a spokesman for the SEC said a request from the solicitor general set the ball rolling in its investigation into the news site, which has been critical of the Duterte administration.

"There was an initial formal request from the Solicitor General that all started it," spokesperson Armand Pan told ANC's Market Edge.

The same sentiment was stated in the regulatory body's 29-page decision.

"On 22 December 2016, the Commission En Banc received a letter dated 14 December 2016 from the Office of the Solicitor General (OSG) requesting an investigation into Rappler, and Rappler Holdings Corporation 'for any possible contravention of the strict requirements of the 1987 Constitution' with regard to issuances of Philippine Depository Receipts to NBM Rappler, LP, and Omidyar Network Fund LLC in 2015," part of it read.

Rappler is one of several news organizations that has earned Duterte's ire for critical reporting on issues hounding his administration, including the bloody war on drugs.

Late last year, Rappler launched a fund drive asking supporters to help them "stay free and independent of political pressure and commercial interests."

The campaign has collected P1.175 million in nearly 4 months.

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