ABS-CBN not party to Lopez family dispute

Amid recent news reports of an internal dispute involving the Lopez family, multimedia giant ABS-CBN said it is not a party to the issue. The statement from the network’s board of directors came after reports surfaced that Federico “Piki” Lopez had sued his cousins, led by ABS-CBN chairman emeritus Eugenio Lopez III, over his removal from Lopez Inc., the group’s private holding firm. The board said claims of “unresolved audit findings” are unfounded, stressing that no such audit findings exist. Directors also dismissed allegations that the proposed capital infusion could be used for “payouts for certain executives,” calling the claim “equally baseless” and emphasizing that no payouts have been made or planned. “Since losing its franchise in 2020, the company has faced challenges unlike any in its history. ABS-CBN has not stopped fighting to ensure its continued existence. It has not stopped serving,” the board said. “The last thing it needs is for its people to be misrepresented in a dispute it is not involved in,” it added.

Go to News Site