The Philippine securities watchdog has ordered the shutdown of Rappler, the media website run by Nobel laureate Maria Ressa, in a move that will mark another blow to independent journalism in the South Asian country. -East.

The move came just two days before President Rodrigo Duterte, the outlet’s most prominent critic, is set to step down for new President-elect Ferdinand “Bongbong” Marcos, who takes office on Thursday. Rappler said he plans to appeal the decision.

“In an order dated June 28, our Securities and Exchange Commission affirmed its earlier decision to revoke the certificate of incorporation of Rappler Inc and Rappler Holdings Corporation,” the company said in a statement issued by Ressa, the point’s chief executive. sale, Wednesday. “We have been notified by our lawyers of this decision which effectively confirmed the closure of Rappler.

“We have the right to appeal this decision and we will, especially since the procedure was very irregular.”

RAPPLER STATEMENT

In an order dated June 28, our Securities and Exchange Commission upheld its earlier decision to revoke the certificates of incorporation of Rappler Inc and Rappler Holdings Corporation. #Stay on the line #CourageON
https://t.co/39bL0KJ2Dw pic.twitter.com/8Q0N6551lh

— Rappler (@rapplerdotcom) June 29, 2022

In January, the Philippine SEC revoked Rappler’s license for allegedly violating the country’s constitution and anti-dummy law. The decision stems from a long-running case over the site’s issuance of Philippine certificates of deposit, a security that allows foreigners to invest in Filipino companies without owning them, to foreign investor Omidyar Network. The country’s constitution prohibits foreign ownership of the media.

The SEC opened an investigation into Rappler in 2016, and the probe was one of multiple criminal cases filed by Philippine authorities against the site, Ressa, and other Rappler executives during Duterte’s presidency, which eroded the democratic checks and balances and moved the Philippines towards authoritarianism during his six years in office.

The Nobel Committee has awarded its 2021 Peace Prize to Ressa and Russian journalist Dmitry Muratov, editor-in-chief of Novaya Gazeta, for their work in favor of freedom of expression.