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‘Di na nahiya magpagamit sa US? Duterte says Rappler clearly broke foreign equity ban on media

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President Rodrigo Duterte swears he had nothing to do with the Securities and Exchange Commission’s decision to revoke web-only news site Rappler’s for violating the constitutional provision limiting meda ownership only to Filipinos.

But Duterte declared he was 100 percent sure the SEC did the right thing in punishing Rappler for taking in a

Duterte shot down Rappler’s argument that eBay founder Pierre Omidyar’s investment did not give the American billionaire any say on how Rappler was being ran.

“You’re not even constitutionally allowed to go into the media. With the pretext of ano ‘yung depository,” he said.

Duterte noted that it did not matter whether Omidyar had voting or non-voting rights, the fact was he invested in Rappler and his money was used to bankroll the salaries and perks of its management, editors, reporters and IT staff.

“You would know that it is being funded (by Americans). Maski sabihin hindi — not owner eh. You were funded by — you are funded by foreign money. Are you not ashamed of that?”

“Hindi mo naintidihan ang corporation law mo… It does not say voting, the law does not say that. It is in the investment, ano ka man. Whether your share votes or not,
that is immaterial,” he added.

Duterte said Rappler’s defense would not hold any legal traction because there was no question Omidyar bought a big chunk of its stocks through Philippine depository receipts.

“Bakit ka mag-voting? No need to vote, you can influence. Eh kung sabihin mo, ‘I will withdraw my exposure’. O, saan kayo
magkuha ng sweldo? ‘Di magkausap talaga kayo,” he said.

Despite what he felt was a gross violation of the Constitution, Duterte said Rappler has thrown “shit and tissue paper” at him and painted him as the villain while hiding behind the “name of the holy grail of press freedom.”

“You have the money and Rappler was being funded by a foreigner and you had the gall to attack people using foreign money.
‘Yung sweldo ninyo, galing doon ‘yan,” said Duterte.

“Although I do not have a say in the management… but I can cripple your company by just withdrawing my investment in your corporation,” he added.