Media giant ABS-CBN confirmed that a proposal to shut down the company was raised during internal board discussions, as tensions within the Lopez family continue to escalate.
In an official statement, the network said the issue surfaced amid what it described as ongoing public relations attacks tied to the family dispute over the company’s future.
“Patuloy ang paninira sa ABS-CBN kasabay ng pagtatalo ng pamilya tungkol sa kinabukasan ng kumpanya,” the statement read.
According to ABS-CBN, records show that one member of its Board of Directors proposed shutting down the company without addressing its obligations to employees and stakeholders.
“Ayon sa records, isang miyembro ng Board of Directors ang nagmungkahi na itigil na ang operasyon ng ABS-CBN nang walang pag-uusap kung paano haharapin ang obligasyon ng kumpanya sa mga tao.”
However, the company emphasized that the majority of its directors opposed the proposal and instead pushed for continued operations.
“Makikita rin sa records na ipinaglaban ng majority ng directors ang patuloy na financial support sa ABS-CBN, sa halip na pagsasara nito, para sa kapakanan ng mga empleyado at retired employees pati na rin ang iba pang stakeholders.”
ABS-CBN also addressed allegations surrounding its pension fund, clarifying that the decline was primarily due to payouts to thousands of retrenched employees following the loss of its franchise in 2020.
“Taliwas sa alegasyon… ang malaking kabawasan sa pension fund ng ABS-CBN ay ang pagbabayad sa halos 6,000 empleyado… Patunay ito sa commitment ng ABS-CBN na lubos na matupad ang obligasyon nito sa mga empleyado.”
The company further denied claims that certain individuals received preferential treatment in retirement benefits.
“Paulit-ulit din ang kasinungalingan at intriga na may 68 indibidwal na ‘pinaboran’… Wala silang nakuhang preferential treatment. Sa katunayan, ipinagpaliban muna nila ang pagtanggap sa retirement pay para makuha ng libo-libong empleyado… ang kanilang buong separation pay.”
It also refuted allegations that a ₱2-billion capital infusion would be used for retirement payouts, saying this had been denied by nearly all board members.
Despite financial challenges since losing its franchise, ABS-CBN said it has shown steady recovery.
“Sa aming pananaw… dinaranas namin ang matitinding pagsubok matapos mawala ang aming prangkisa noong 2020. Pero sa kabila nito, tuloy-tuloy ang pagbangon ng kumpanya.”
The network underscored its commitment to its workforce and legacy, invoking the principles of its founder.
“Our reason for being is and always will be to be in the Service of the Filipino,” it quoted from Eugenio “Geny” Lopez Sr..
ABS-CBN maintained that while the issue is rooted in a family dispute, it will not hesitate to defend itself publicly.
“Isa itong alitan ng pamilya na hindi sana pinag-aawayan sa publiko. Subalit hindi uurong ang Kapamilya network sa pagtatanggol sa kumpanya laban sa anumang kasinungalingang ibinabato rito.”
