Rappler can still continue operating, says SEC

Rappler Inc. can continue operating as a mass media company, because the decision to cancel its incorporation papers is not yet executory, the Securities and Exchange Commission (SEC) said Monday.

In a decision dated Jan. 11, 2018, the regulator revoked the registration certificates of both Rappler Inc. and Rappler Holdings Corp.  after they supposedly sold controlling interest to foreigners, a violation of the Foreign Equity Restriction of the Philippine Constitution.

“Rappler can continue while the decision is not yet final and executory,” Armand Pan, SEC spokesperson, told GMA News Online. “Rappler can exhaust legal remedies ... make an appeal with the Court of Appeals in 15 days. Meanwhile, SEC decision is not final and executory.”

The SEC made public on Monday a decision to revoke the certificates of incorporation for supposedly violating the foreign ownership restrictions on mass media companies.

The SEC clarified, however, that Rappler still has 15 days to make  an appeal before the appellate court.

“Rappler has the right to appeal to the Court of Appeals,” SEC Commissioner Teresita Herbosa said in a separate text message.

The online news company said it will contest the decision and exhaust all legal means in doing so.

“We intend to not only contest this through all legal processes available to us, but also to fight for our freedom to do journalism and for your right to be heard through an independent platform like Rappler,” it said in a statement posted on its website. — VDS, GMA News