Five months after President Rodrigo Duterte kicked off an expletive-filled, single-minded campaign in opposition to the house owners of the Philippine Daily Inquirer, the Prieto-Rufino family has introduced plans to absolutely divest from the information media it managed for the final 25 years.
In an announcement launched after a basic assembly with the workers, Inquirer Group of Companies Chair Marixi Rufino Prieto confirmed hat she has reignited talks with “longstanding friend and business partner Ramon S. Ang” for the sale of her family’s majority curiosity in her media empire.
Ang is the president and COO of San Miguel Corp.
Prieto didn’t contact on the incessant public assaults on her family by Duterte in her one web page assertion.
Instead, Prieto referred to as the divestment a “strategic business decision that it believes will maximize growth opportunities for the Inquirer Group.”
Prieto expressed confidence that Ang would uphold the Inquirer’s “pursuit of the highest standards of journalism” and that his investments and enterprise experience would unlock added worth to the media outfit.
Prieto mentioned that Ang had expressed curiosity in proudly owning a part of the Inquirer in 2014.
She mentioned discussions have been “restarted” erly this yr after the family accomplished the annual evaluate of the group’s enterprise pursuits and plans.
Duterte began his assault on the Rufino-Prieto family in March this yr by cursing the Inquirer house owners for being “corrupt” and “biased” in its studies in opposition to his administration, ranging from its expose on Sen Antonio Trillanes’s expose of his secret financial institution accounts to its full-blown protection of the rising physique rely in his brutal drug conflict.
Duterte uncovered the Rufino-Prieto family’s alleged sweetheart cope with the Bureau of Internal Revenue concerning the Dunkin’ Donuts tax settlement (the Prieto’s Golden Donuts personal the native franchise) and their refusal to vacate the Mile Long property after the lease contract with the federal government on the property expired means again in 2003.