Who are behind DMT Ice Angels who own 17 percent of Rappler?

Indeed, it’s been one of Philippine Media’s greatest non-mysteries: the question of who owns “social news network” (pa)hipster news site Rappler.com. According to Rappler CEO Maria Ressa, all the answers to that question are in their sanitised About page which features a list of its illustrious Board members. But ever since a quick-and-dirty exposé (actually, more of a quickie dissection) by media watchdog Spin Busters of what is now an evidently glaring ommission of disclosure in the Rappler money trail, questions have been raised and defensive responses fielded by Ressa over the identities of the “40something couple who want to remain anonymous” behind the shady holding company DMT Ice Angels who own 16.67 percent of “God’s Gift” to Pinoy journalism.

The Spin Busters report tables a simple question, “Who owns Rappler?” and notes…

Documents show ex-CNN reporter Maria Ressa owning 27.4% of Rappler, Inc. Combined, colleagues Marites Vitug, Chay Hofilena, and Glenda Gloria own 6.66%. (It’s their share of the pie, not the mark of the beast.)

The other significant owners are Filipino holding companies. Cappadocia, Inc. owns 29.27% while Dolphin Fire Group, Inc. owns 20%. No huge surprises there since the people behind these firms sit on the board of Rappler.

…but then:

There’s just one thing. A big shareholder, DMT Ice Angels Holdings, Inc., a company with a Makati address, is as puzzling as its corporate name. It owns 16.67% of Rappler.

dmt_ice_angels_holdings_inc

If no specific person represents the interests of DMT Ice Angels on the Board of Rappler, then perhaps one can conclude that one or a number of the current sitting and disclosed Board members does. Who could that person be? Considering that it was Ressa herself who quickly confirmed in a tweet that the said 40-something couple are the shadowy figures behind this holding company, it is a reasonably worthwhile exercise to speculate on how much of the couple’s personal interests the Rappler CEO looks out for during their Board meetings.

To be fair, Rappler is a privately-held company. So it is entitled to the opaqueness of its gravy train. Every Filipino is entitled to such privacy under the Philippines’ infamous bank secrecy laws after all, right Ms Ressa? There is hope, however, for all the cats out there being killed by St. Curiosity (last I heard, the patron saint of real journalists). Cosmologists infer the properties of black holes (massive celestial bodies that suck everything out of the universe, including light itself) by observing the behaviour of neighbouring objects. So far there is enough circumstantial information surrounding “God’s Gift to Pinoy Journalism” to make certain inferences.

The fun part is in connecting the dots. But that need not be an urgent goal. Political exercises (like elections and impeachment trials) have the interesting effect of teasing out the real characters and real agendas of self-appointed “thought leaders” and moral beacons.

So like Rappler’s partner-in-crime ABS-CBN, we can only say for now:

Abangan ang susunod na kabanata…

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Post Author: benign0

benign0 is the Webmaster of GetRealPhilippines.com.

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19 Comments on "Who are behind DMT Ice Angels who own 17 percent of Rappler?"

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Jose Gracia
Guest

If Marites Vitug is there, an agenda goes with it.

jcc
Guest

i have been following rappler, but lately its contents are dry and bland.. rarely goes there anymore.

Ilda
Admin

They are not as exciting and informative as GRP. 😉

Blogsites usually become “dry” and “bland” when it’s being sponsored by someone with an agenda 😉

Johnny Derp
Member

Rappler is going down, there is no doubt about their impending downfall. Same goes for aquino’s presidency. I really doubt that aquino would survive till 2016 judging from his shitty performance which the yellow media and malacanang trolls are so desperate to hide.

Justice
Guest
Disclosure: I used to work in ANC. I used to watch Maria Ressa on CNN back in the days. You can imagine how happy I was when I heard that she was coming on board as a News Consultant to ABS-CBN to give our news organization the overhaul that it needed. Her ideas were fresh and her positive vibe was infectious. I was glad that Maria came on board. Many controversies hounded Maria during her tenure, but there were two controversial moves that haunted her the most. 1. When she fired 35 people. (Frankly, the 35 people she axed needed… Read more »
Libertas
Guest

Maria ressa a fully paid up member of the carpet munchers guild. Not a surprise. Now the vagitarian is also part of the yellow gay media mafia.

What do you call a lesbian with long fingers?
Well hung.

Whats the difference between a lesbian and a bowling ball?
You can only get 3 fingers in a bowling ball.

dan oliver mia
Guest

“..to uplift the standard of Philliipine Journalism to the Standards used in US..”

you mean from one joke to another joke? 😀

“This is one of the reason why the people at Rappler are young, and not senior with substance like at Abs-cbn.”

kung may substance ang mga personalidad sa mainstream media, matagal na sanang nalagay sa oras na mas maraming makakapanood yung mga programang karapat-dapat pagdiskusyonan.

Gogs
Member
You would like to think you are getting objectivity. Whether it was on Rappler or their Twitter , they were showing photos of their press passes on the eve of the SONA. Words of any politician are usually useless. That goes double for Noynoy since he has never talked about anything he ever did pre election. Not once. But Rappler staff seemed to be so excited for this SONA as if they were waiting for Moses to come down from Mt. Sinai. That’s not objectivity. That’s not perspective. They should be objective. But I saw more restraint from teenage girls… Read more »
Trosp
Guest

Gogs,

I’ve never read any comments in this blog that is so uplifting like yours he he he…

Tagay!!!

Where is the “like” button?

pablo conde
Guest

FTW!!!!

Trosp
Guest

benigs,

Insigthful post.

The worst I’ve seen on Ressa was during the last Trillanes rebellion. The way she justified the media in obstructing the military action against the idiot rebels in the name of press freedom.

Pwe!

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