First of five parts
THE Philippine Star marked its 40th anniversary on July 27 with an issue of unprecedented length of 216 pages, its motto prominently displayed: “Where Truth Shines.” However, the catchphrase that most accurately describes Philstar: “Where Truth Is Buried”: Not a single mention, out of the issue’s 500,000 words, of “Anthoni Salim,” the foreigner who is the paper’s ultimate controller. The Star has been hiding the fact that a Salim firm had accumulated a 51 percent controlling stake by 2014.
But it is not only the Star, one of the country’s two largest broadsheets, that Salim controls. The Indonesian governs over the largest and most diversified media conglomerate in the country, which includes its 76 percent shareholdings in the business paper BusinessWorld, a 20 percent minority interest in the Philippine Daily Inquirer, TV5 Network, Nation Broadcasting Corp., Cignal TV, and the country’s third oldest newspaper still publishing, the Cebu-based The Freeman.
Salim’s control of these media firms is in violation of the constitutional ban on foreign capital in media, although Salim has exploited legal loopholes to do this. Amazingly, no one, no administration, has questioned this anomaly defying our Constitution in court.
Anthoni is the son of Soedono Salim, the late Indonesian-Chinese billionaire who was strongman Suharto’s biggest crony, who had built a vast business empire in Indonesia.
After Suharto was overthrown after 32 years in power in 1998, one of his three sons, *Anthoni recruited Filipino Manuel V. Pangilinan, a Hong Kong-based banker, to organize and head his holding firm, First Pacific Co. While the first companies Pangilinan set up proved to be ill-fated ventures (e.g., Bonifacio Land, Steniel Manufacturing, and Metro Bottled Water), it was Pangilinan’s controversial capture of PLDT during President Estrada’s term that boosted First Pacific’s expansion in the Philippines.
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