In a significant development for press freedom in the Philippines, the Court of Appeals (CA) has overturned a 2018 decision by the Securities and Exchange Commission (SEC) that threatened to shut down the news outlet Rappler.
“The Securities and Exchange Commission is ordered to restore the Certificate of Incorporation of Rappler, Inc. and Rappler Holdings Corporation in its records and system and withdraw all its issuances and actions made pursuant to its illegal revocation of the same,” said the CA Special 7th Division.
It is said that Rappler violated foreign ownership restrictions by issuing Philippine Depositary Receipts (PDRs) to a foreign investor. However, after the investor donated the PDRs to Rappler’s Filipino managers, the CA found that the company was fully compliant with Philippine law.
The decision concludes the 8-year legal battle that has drawn significant attention to the challenges faced by independent media in the Philippines.
This latest victory for Rappler is seen as a crucial step in safeguarding the rights of journalists and ensuring a free and independent press. The case has broader implications for media freedom and the role of government oversight in the Philippines.
