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LORDS OF THE PRESS
NEWSPAPERmouthpieces of their owners
As a Weapon
Owned by Chinese-Filipino Businessmen
Having legitimacy and political influenceWealthy Chinese-Filipino businessmen as the owners of the newspapersEmilio Yaptook over the Bulletin in a series of controversial corporate maneuvers that followed the death of Bulletin publisher Hans Menzi.
In July 1986, Betty Go-Belmonte broke away from the Inquirer to set up the Philippine Star, initially with the help of a P2-million investment from Chinese-Filipino businessman William Gatchalian, who is currently an Estrada ally and presidential consultant on overseas Filipinos.In 1988, tycoon John Gokongwei Jr. purchased the Manila Times from the Roces family.

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Lords Of The Press

  • 5. Having legitimacy and political influenceWealthy Chinese-Filipino businessmen as the owners of the newspapersEmilio Yaptook over the Bulletin in a series of controversial corporate maneuvers that followed the death of Bulletin publisher Hans Menzi.
  • 6. In July 1986, Betty Go-Belmonte broke away from the Inquirer to set up the Philippine Star, initially with the help of a P2-million investment from Chinese-Filipino businessman William Gatchalian, who is currently an Estrada ally and presidential consultant on overseas Filipinos.In 1988, tycoon John Gokongwei Jr. purchased the Manila Times from the Roces family.
  • 7. In 1991, the Yuchengcosbought into the Manila Standard, which was set up by the Elizalde family in 1987, but later sold to the Sorianos in 1989. (The Yuchengcos, however, sold their shares to the Spanish mestizoRazon family in 1996.)FOR MOST OF THE POST- war period, newspapering was firmly in the hands of big businesspeople who were not shy about using their newspapersto push for legislative and policy changes, put down their rivalsand promote their allies. Without much compunction, they used their publicationsto lash out against their enemies and fight their crusades.
  • 8. Given the constitutional guarantee of a free press, it is very difficult for government to intervene in the way newspapers are run, except by filing charges in court