Announcement
Announcement

Omidyar Network Donates Philippine Depositary Receipts to Rappler Staff

February 28, 2018

Today, Wednesday, February 28, Omidyar Network announced that it has donated the Philippine Depositary Receipts (PDRs) it held to 14 managers of Rappler Inc., all of whom are Filipino citizens.

We have taken this action in order to address the unwarranted ruling made by the Philippines Securities and Exchange Commission (SEC) against Rappler, Inc., and Rappler Holdings Corporation.

The donation completely eliminates the sole basis of the SEC ruling against Rappler Inc. and Rappler Holdings Corporation.  We therefore strongly believe that the companies should be allowed to continue operating unhindered in the Philippines.

Omidyar Network’s only objective has always been to enable the ongoing growth and success of these companies, and to support their dedicated journalists in providing independent, impartial, and credible news.

This action also reaffirms our intention that Rappler Inc. and Rappler Holding Corporation should continue to operate as fully independent, Filipino-owned and run companies, and highlights that Omidyar Network never had any control or influence over their management, operations, or editorial policy.

This has been a clear and direct attack not only on Rappler Inc. but also on independent journalism and press freedom in the Philippines.

Independent and investigative journalists, such as the highly committed team at Rappler Inc., should not have to put their jobs, freedom and safety at risk to provide impartial news coverage. We must support and protect these courageous journalists around the world, otherwise the press will lose objectivity, trust, and the ability to hold those in power to account. 

BACK TO NEWSROOM
It looks like there's some information missing
By clicking, you agree to the Terms and Conditions

Article

The Importance of Catalytic Capital

Omidyar Network’s Mike Kubzansky joins Rockefeller’s Raj Shah and MacArthur’s Julia Stasch to highlight the important role philanthropy can play in making investments in impact-oriented entrepreneurs who might otherwise not have access to sufficient capital. 

READ ON

Article

From Apps On Your Phone To Satellites In The Sky, A New Program Looks Into The Ethics Of Mapping

A new program called EthicalGEO, sponsored by the American Geographical Society (AGS), encourages people to begin a dialogue on the ethical implications geospatial technologies present in our lives.

READ ON

Announcement

Knight Foundation Announce Commitment of Nearly $50 Million to Better Understand How Technology is Transforming our Democracy

Knight Foundation announce commitment of nearly $50 million in research to better understand how technology is transforming our democracy and the way we receive and engage with information.

READ ON