11 August 2017 By Mae U. Caralde
The sale of a majority stake in the Philippine Daily Inquirer raises concerns about the newspaper’s fabled fearlessness.
On 17 July 2017, Marixi Prieto, the chair of the Inquirer Group of Companies, which publishes the Philippine Daily Inquirer (PDI), announced that she relinquished her roughly 68% stake in the paper to the tycoon Ramon Ang (pictured), president of the San Miguel food and beverage conglomerate. PDI is the largest and most influential newspaper in the Philippines.
With this acquisition, Mr Ang becomes a partner with the Inquirer minority stakeholder Manny Pangilinan, who also owns TV5, Philippine Long Distance Telephone (PLDT), Philex Mining Corporation and Manila Electric Company (Meralco).