MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Loyalty and integrity end where money begins. This is what’s happening to the online news source, Rappler.
Rappler’s foreign investor Omidyar Network announced that it was donating its $1.5-million (around ₱78 million) investment to the media agency’s 14 Filipino managers, in a move to resolve foreign ownership issues.
“This completely eliminates the basis of the unwarranted SEC (Securities and Exchange Commission) ruling,” Stephen King, Omidyar’s Head of Global Governance and Citizen Engagement, said in a statement Wednesday.
The investment will be split equally among senior managers Jennifer V. Chua, Marie Fel D. Dalafu, Stacy Lynne M. de Jesus, Lilibeth Socorro L. Frondoso, Glenda M. Gloria, Dominic Gabriel L. Go, Miriam Grace A. Go, Natashya Marianne L. Gutierrez, Maria Rosario F. Hofileña, Gemma B. Mendoza, Pauline Gel C. Occeñola, Libertad G. Pascual, Maria A. Ressa, and Anne Louise B. Yosuico.
No mention of Rappler’s high-profile reporter, Pia Ranada. And she’s crying foul!
”While I am not a senior manager, it was my arrogrance and reporting skills that have made Rappler famous, so I deserve my share of the Omidyar donation” Ranada told The Adobo Chronicles.
So between the impropriety of individual managers receiving the donation from a foreign investor, and Ranada’s rap against Rappler, we can truly say that money is the root of all evil.
Rappler’s true colors have just been revealed!