SEC argues that since Omidyar Network, an international philanthropic investment firm founded by eBay founder Pierre Omidyar, holds 5.5% of Rappler’s total PDR, it gives them enough power to control the said news website even if they do not have the actual ownership over it, which Ressa founds confusing because the PDRs they submitted in 2015 were accepted by the SEC, yet SEC deems it unacceptable now.

 

Chay Hofilena, Rappler’s acting managing editor, said that it is the PDRs that enabled them to operate and perform independently, and they do not feel anything wrong with it because there are also a lot of companies who have PDRs. She reiterated that having PDRs do not make foreign companies entitled to interfere with the stories they make and publish, that is why they thought having PDRs is much better than having shareholders and investors.

 

Meanwhile, the Palace stated and assured that SEC’s order to annul the Rappler’s license to operate is neither a violation nor a threat to press freedom because the issue at hand is solely about Filipino ownership of media.

Presidential Spokesperson Harry Roque said that Rappler should follow SEC’s ruling because it is the restrictions of the Constitution regarding the ownership and management of mass media that should prevail and that “No one is above the law.”