MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – The Securities and Exchange Commission (SEC) is on a roll.

First, it revoked the license of Rappler to operate as a media company because it violated the ownership rules mandated by the 1987 Philippine Constitution.

Then, it ruled that The Adobo Chronicles is not a satire site because most of its stories were factual.

Now, SEC has certified that two major blogs from either side of the political spectrum are indeed, legit media companies — Thinking Pinoy and Pinoy Ako Blog.

”We have found no evidence of any foreign investment or funding for these two blogs,” SEC said.  “Both are 100% Filipino owned.”

”In fact, even their blog names are very Filipino — both using the title, “Pinoy,” unlike Maria Ressa’s company which used a very foreign-sounding name, “Rappler.”

All’s well that ends well.

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