Rappler welcomes Omidyar Network’s donation of $1.5-M PDRs

Rappler welcomed on Wednesday the donation of its foreign investor, Omidyar Network, of all its Philippine Depositary Receipts (PDR) worth $1.5 million to the managers of the embattled online news site.

In a statement on Wednesday, Rappler said the gesture only proved that “it has always been, Filipino-owned and controlled.”

“It also demonstrates that Omidyar Network, in whatever capacity, remains committed to supporting independent, investigative, and innovative media organizations globally,” Rappler said.

“SEC Chairperson Teresita Herbosa has repeatedly said that the SEC decision was not politically motivated. Now the government has a chance to prove it,” the online news site added. /atm