Media company ABS-CBN released an official statement addressing what it described as ongoing public relations attacks linked to an internal dispute within the Lopez family over the company’s future.
In its statement, ABS-CBN said: “There have been continued PR attacks against ABS-CBN as part of a family dispute over the company’s future.”
The company also pushed back against recent claims involving its employee retirement fund.
“The latest PR article purports to be motivated by a concern about employee welfare by discussing the retirement fund,” it said.
ABS-CBN cited internal records to counter allegations, emphasizing that decisions made by its leadership were intended to protect employees and stakeholders.
“Records show that one of our directors proposed shutting down ABS-CBN without so much as discussing how it would meet its obligations to its people. Records also show 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 clarified that the decline in its pension fund was largely due to payouts following the 2020 franchise loss.
“Contrary to what the article claims, the largest decline in ABS-CBN’s pension fund was due to payouts to close to 6,000 employees who were retrenched as a result of the franchise loss. This is proof of ABS-CBN’s commitment to fully meet all its obligations to its employees.”
ABS-CBN acknowledged the financial challenges it has faced in recent years but highlighted signs of recovery.
“From ABS-CBN’s perspective, we acknowledge that, following the loss of our franchise in 2020, we have experienced challenging financial years but have shown steady, consistent improvement.”
The statement also denied allegations that certain individuals received preferential treatment in retirement payouts.
“There are repeated lies that 68 individuals ‘received preferred treatment’ in the payout of their retirement benefits… 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.”
The company likewise refuted claims about a supposed ₱2 billion capital infusion being used for retirement payments.
“Repeated allegations that a P2 billion capital infusion would be used to pay out retirement benefits are also false. This has been refuted by all the Board of Directors members except one.”
ABS-CBN also emphasized its legacy and guiding principles, referencing its founders.
“ABS-CBN has been fortunate to have been founded by Kapitan Geny Lopez… That leadership continues today through our Chairman, Mark Lopez.”
The company reiterated its commitment to public service, quoting its founder: “Our reason for being is and always will be to be in the Service of the Filipino.”
While acknowledging that the issue stems from a family dispute, ABS-CBN maintained that it would continue to defend itself publicly when necessary.
“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.”
