A rappler employee exits its office at the Capitol Commons in Pasig on Monday, January 15, 2018 after Maria Reesa and Chay Hofilena gave a press briefing to media as the Securities and Exchange Commission (SEC) orders the revocation of its license to operate. INQUIRER PHOTO / GRIG C. MONTEGRANDE
Investment firm Omidyar Network聽on Wednesday聽announced it has donated its Philippine Depository Receipts (PDRs) to the managers of the embattled news website Rappler.
Rappler announced the development in a news report posted on their website.
鈥淭his donation completely eliminates the sole basis of the SEC ruling against Rappler Incorporated and Rappler Holdings Corporation,鈥� Omidyar partner Stephen King was quoted as saying.
鈥淲e therefore strongly believe that the companies should be allowed to continue operating unhindered in the Philippines,鈥� he added.
In January, the Securities and Exchange Commission (SEC) revoked Rappler鈥檚 license for supposedly violating Constitutional provision on media ownership.聽/je
搁贰础顿:听SEC orders Rappler to shut down