This morning, ABS-CBN Corporation (PSE: ABS) issued an official statement regarding the Lopez Family dispute, in which there has been a continued attack in the Press against the broadcaster as part of the said dispute over the company’s future operations. The said controversy also involved a PR attack, which is often described as a disservice to the employees who have fought so hard to keep the company active, and to the public that has supported them throughout all its trials.
A PR article that purported to be motivated by a concern for employee welfare, discussing the retirement fund. And as a concern of this recent controversy, ABS-CBN stated that a record which shows that one of the directors of the company “proposed shutting down ABS-CBN without so much as discussing how it would meet its obligations to its people”. Additionally, another record also shows that the majority of the directors “strongly argued for continued financial support for ABS-CBN rather than liquidation to address the welfare of the company’s employees and retirees, as well as its other stakeholders”, the company added.
Additionally, a news article claimed that the largest decline in the pension fund of ABS-CBN, was due to payouts to close to six thousand retrenched employees caused by the forced shutdown of Analog/Digital Channels 2, 23, 16, and 43, regional channels, radio stations 101.9 FM and 630 KHz AM, and all other on-air properties linked to its expired franchise on May 5, 2020. This is proof of ABS-CBN’s commitment to meet all obligations to its employees.
The company acknowledged that “following the loss of their franchise in 2020, we have experienced challenging financial years but have shown steady, consistent improvement. The Board of Directors and the rest of the Lopez family have commended the company’s progress and emphasized its existence as important to the country.”
Additionally, 68 individuals have repeatedly lied about the benefits of receiving the payment in full, which is designed to sow intrigue among employees. ABS-CBN clearly explained to the full board and to its compensation committee.
“The majority of these individuals are retirees who have received only partial or no retirement benefits, despite already retiring. They have agreed to voluntarily wait until ABS-CBN’s financial position improves before receiving full payment. They did not get preferential treatment. In fact, they deferred receipt of payment so that the thousands of employees who were separated from the company received their separation pay in full,” ABS-CBN said.
ABS-CBN also added that the remaining unpaid retirement obligation issue was raised with its board late last November 2025, while the repeated allegations that a PHP 2 billion capital infusion would be used to pay out retirement benefits were deemed false. This has been refuted by all the members of the Board of Directors, excluding one.
“These public PR attacks on ABS-CBN’s pension fund, its business performance, and its leadership prove that the individual/s behind these releases do not have the best interests of the company at heart,” the company concluded.
ABS-CBN has been fortunate to have been founded by Geny Lopez. His son, Gabby, was part of the leadership, and it continues today with the Chairman of ABS-CBN, Mark Lopez. Kapitan Geny explained why ABS-CBN must remain true to its values and mission: “Our reason for being is and always will be to be in the Service of the Filipino.”
“Profit alone is not enough reason to go into business. But if we serve our people, then I think that our growth and success will follow. If we take care of our people, they will take care of us. That’s the kind of culture a company should have,” he added.
ABS-CBN concluded in its statement that “the series of press releases claims that many of the decisions around ABS-CBN are not in line with proper stewardship or good investment. We leave it to the public to decide whether those actions remain true to the family’s espoused values. This is a family dispute and should remain so.”
“We also believe it should not be fought in public. However, ABS-CBN will not shy away from defending itself and any untruths leveled against it,” the company added.
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