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News Site Run by Nobel Prize Winner Faces Closure in Philippines

Maria Ressa
Maria RessaPhotographer: Ezra Acayan/Getty Images
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Philippine news website Rappler Inc. is again facing the possibility of a shutdown, after the Securities and Exchange Commission stood by its decision to revoke the site’s license to operate.

In a statement Wednesday, the SEC said it’s affirming the decision it made in January 2018, when it found Rappler liable of violating the constitutional restriction on foreign ownership in mass media when it issued depositary receipts, which it said gave U.S.-based Omidyar Network Fund Inc. control over the news network.