MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Faced with diminishing support and funding, Rappler has made the difficult decision to forego with a court appeal challenging the Securities and Exchange Commission’s (SEC) decision to revoke its license for violation of the Constitution.

In an emotional statement issued today, (former) Rappler CEO Maria Ressa said that she would rather focus her energy and money on reorganizing and reviving her online news source.

“This time, the new company will be 100% Filipino-owned” she promised.

During a quickly-called press conference held at her garage, Ressa revealed her new company’s name and logo:

BBON – Bola Bola Online News