It will be a Malacanang mouthpiece, distorting news and information so that the president will not lose his equanimity. The establishment of a crony press is not the sensible substitute for sensationalism and irresponsibility. For all its perceived faults, we need the Inquirer for its boldness and daring. We can take comfort in the fact that when everyone else has been silenced, the Inquirer will still scream. You do not have to be told that a free and credible press is good for business.
Investors require transparency if they are to make sound business decisions.
A free press encourages the development of an even playing field for business, helping struggling economies avoid the pitfalls of cronyism and corruption. After the Asian crisis, foreign investors are putting a premium on access to information in deciding where to put their money. Foreign analysts are telling us that one reason the Philippines weathered the crisis so well was because of the openness of its society and the freedom of Filipino journalists to report. The problems of freedom and ethics therefore are not just the problem of the press. First of all, journalists have to reach a consensus on ethical standards and to impose these standards without fear or favor.