ABS-CBN confirms shutdown proposal amid Lopez family feud

MANILA, Philippines — ABS-CBN Corp. confirmed that a proposal to shut down the company was raised during board discussions, amid the escalating dispute within the Lopez family. In a statement on Wednesday, the media giant said records show a director proposed liquidation without addressing obligations to employees, retirees and other stakeholders. ABS-CBN  said the majority of directors opposed the move. Instead, they pushed to sustain operations and protect the network’s workforce and creditors. READ: ABS-CBN seen surviving amid Lopez family rift The statement comes after the Lopez majority, led by Eugenio “Gabby” Lopez III, earlier said the network “will survive […]... Keep on reading: ABS-CBN confirms shutdown proposal amid Lopez family feud

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