Category Archives: PRESS

SEC issues revocation order vs Rappler

Revocation order issued in last 2 days of Duterte presidency


MANILA, Philippines – On the last two days of President Rodrigo Duterte, the Securities and Exchange Commission (SEC) issued an order affirming one more time its decision to revoke the certificates of incorporation of Rappler.

“The company registration and monitoring department is hereby directed to effect the revocation of the certificates of incorporation in the records and system of the Commission,” read part of the order dated June 28, and signed by SEC chairperson Emilio Aquino; and Commissioners Javey Paul Francisco, Kelvin Lester Lee, Karlo Bello, and McJill Bryant Fernandez.

What does this mean? “We have existing legal remedies all the way up to the highest court of the land. It is business as usual for us since, in our view, this is not immediately executory without court approval,” said Rappler in its statement on Wednesday, June 29.

In a statement on Wednesday, the SEC said: “In this light, the latest order issued by the Commission En Banc merely puts in effect its earlier decision and those of the Court of Appeals.”

This comes after the National Security Council (NSC) blocked news websites, including, using the feared anti-terror law.


In July 2018, the Court of Appeals (CA) issued a decision siding with the findings of the SEC that Rappler’s issuance of Philippine Depositary Receipts (PDRs) to foreign investor Omidyar constituted some amount of foreign control that was prohibited by the Constitution. The Constitution requires that media companies should have zero foreign control.

But in the same decision, the CA said that when Omidyar donated its PDRs to Rappler’s Filipino managers, “the negative foreign control found objectionable by the SEC appears to have been permanently removed.” The CA remanded the case to the SEC to reevaluate, with a nudge to the Corporation Code’s clause allowing companies to have a grace period to cure their alleged defects.

The SEC stood by its findings in February 2021. Rappler filed a motion for reconsideration before the SEC. This latest order is an action to that motion.

SEC said in this latest order: “Considering that the object of the Donation (the Omidyar PDRs) was void for being contrary to law, the Donation itself was void under Article 1409(1) of the Civil Code for being contrary to law and public policy.”

SEC said that when the CA remanded the case, the appellate court did not order to reinvestigate but only to reevaluate. Rappler asked the SEC to receive additional evidence.

“The Commission’s compliance with the said directive could not have violated the due process rights of Rappler and RHC because, by the very nature and essence of the directive, Rappler and RHC were not entitled to participate in the said legal evaluation,” said the SEC.

In February 2019, the CA affirmed its 2018 decision. By September 2019, the Supreme Court issued a resolution declaring the case closed and terminated. The CA registered its books of entry of judgment, declaring it had attained finality in March 2019.

“Public interest will be served if the revocation of the Certificate of Incorporation of Rappler and Rappler Holdings Corporation is sustained because it will implement the policy of respecting and fully complying with the provisions of the Constitution, to which every Filipino owes allegiance,” said the SEC in its order.

Rappler told its staff in an internal memo sent late night Tuesday: “Clarity, agility, sobriety. Review our drills and the tasks assigned to you.”

“Meantime, it is business as usual for us. We will adapt, adjust, survive and thrive.” –


PTFoMS condemns shooting of blocktimer

Malacañang strongly denounced the shooting of Rico Osmeña, a blocktimer for radio station DYLA, who was shot while onboard a minibus traveling along Urdaneta St. in Barangay San Roque, Cebu City on Thursday.

“The Presidential Task Force on Media Security (PTFoMS) condemns the attack on Rico Osmeña. I have already asked the Philippine National Police (PNP) Regional Office to use all available manpower and resources to find and apprehend the perpetrators of this cowardly act,” PTFoMS Executive Director, Undersecretary Joel Sy Egco said in a news release.

Initial report submitted to PTFoMS by the PNP through Maj. Edgar C. Labe, station commander of Police Station 3 in Cebu City, disclosed that at around 12:30 p.m., two unidentified male gunmen suddenly boarded the minibus and shot the victim twice in the back and immediately fled. READ MORE

House dumps ABS-CBN’s provisional franchise bill



The House of Representatives has decided to abandon the proposed five-month provisional franchise for media giant ABS-CBN, Speaker Alan Peter Cayetano said on Tuesday.During the plenary session, Cayetano said the lower chamber would instead immediately proceed with the hearings for… Read More


Palace distances from SC’s handling of ABS-CBN case

Malacañang on Tuesday declined to issue any comment on the way the Supreme Court’s (SC) is handling the issue concerning the expired 25-year legislative franchise of broadcast firm ABS-CBN Corp.In a virtual presser aired on state-run PTV-4, Presidential Spokesperson Harry… Read More

Senators divided over ABS-CBN franchise bill hearings

As Senate hearing on several bills granting ABS-CBN Corporation a franchise began, several senators on Tuesday expressed their reservations over the constitutionality of the proceedings since the House of Representatives has yet to transmit its version to the upper chamber.The Senate… Read More

Niñez Cacho-Olivares: A passion for reportage



Malacañang on Saturday condoled with the family of The Daily Tribune founder Niñez Cacho-Olivares who passed away on Friday due to a lingering illness.

Presidential Spokesperson Salvador Panelo said the Office of the President was “deeply saddened” by the passing of the 78-year-old veteran journalist.
“The Palace expresses its deep condolences and commiserates with the family of Ms. Olivares, as well as her friends, colleagues and loved ones,” Panelo said in a statement. “May the perpetual light shine upon her, and may her soul, through the mercy of God, rest in eternal peace.”
Olivares was the founder, former publisher, and editor-in-chief of The Daily Tribune. She sold the publication to the Concept and Information Group in June 2018.


She also worked as a feature writer and political commentator in several Manila broadsheets, including the Philippine Daily Inquirer, Bulletin Today, Business Day, and Business World.
Panelo acknowledged that The Daily Tribune became a hard-hitting publication that delivers news “without fear or favor” because of Olivares.
“She was known for her biting commentaries and insightful analyses laced with wit and elegant sarcasm on government incompetence and corruption that provided probing and intellectual insights to her readers,” he said. “Her debilitating illness could not stop her from putting The Daily Tribune to bed every day.” 
Panelo said Olivares’ moving passion for reportage is “legendary.”
He noted that during the martial law regime under the late dictator Ferdinand Marcos, Olivares was “one of the leading figures who carried the torch for freedom of expression.”
“She bravely joined the parliament of the streets against the Marcos presidency,” Panelo said. “The threat of arrest and detention could not deter her from pursuing her advocacy of freedom of the press and good government.” 
Panelo said Olivares was a “shining example” of a journalist who wrote with truth and her demise was a big loss.
“Her words came across as a scalpel that cuts the lies and corruption of political scoundrels,” he said. “We have lost a welcome hell of a journalist that struck fear in the hearts of corrupt bureaucrats and politicians with pretended nationalism, as well as pseudo-intellectuals who suffocate the air with their nonsense.”
Olivares is survived by her children Peter, Bambina, Michael, and Pixie; children-in-law Tweety Quintero, Xandra Barretto and Jay Fonacier; and grandchildren Carlo, Iñigo, Isabella, and Enrique Olivares, Samantha and Jessica Wise, Julio Olivares, and Noelle Fonacier. (PNA)