Investigate Omidyar investment in Rappler now!

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So, the Constitutional prohibition on foreign ownership of media is being skirted around by Rappler, ABS-CBN and GMA-7 through the issuance of Phillipine Depositary Receipts or PDRs to foreign investors like Omidyar, considering that PDRs are not considered as certificates of ownership.

Omidyar invested a substantial amount in Rappler through this scheme. But a closer look at the Omidyar investment suggests a possible active role of this US based company. More significantly, Omidyar is implicated in political intervention that led to the revolution in the Ukraine last year.

I reiterate my call for a full congressional investigation in aid of legislation to look into how Rappler could have exploited loopholes in the law to undermine the Constitution and have an active partnership with an investor that has a track record in aiding and abetting regime change.


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Antonio Contreras as posted on Facebook.


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