The Kapamilya network has issued a new statement amid the internal feud of its corporate overlords.
On Wednesday, April 15, ABS-CBN Corporation released a new statement in light of recent stories regarding the company.
The day prior, news broke during a town hall meeting that there was a proposal back in November 2025 to shut the media company down, as it continues to be in the red five years after the government-ordered closure of its terrestrial network in 2020 due to the expiration of its Congressional franchise.
Clarifying an earlier report by another publication, it told that records show that one of its directors proposed the closure “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,” it added.
It also noted that there have been continued PR (press release) attacks against ABS-CBN as part of a family dispute over the company’s future, referencing the squabble between the camps of chairman emeritus Eugenio ‘Gabby’ Lopez III and cousin Federico ‘Piki’ Lopez.
In the latest PR article, which it said “purports to be motivated by a concern about employee welfare by discussing the retirement fund.”
The company stated that contrary to 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,” it stressed.
“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,” they furthered.
The media company’s Board of Directors and the rest of the Lopez family have also commended the its progress and emphasized its existence as important to the country.
“These continued public PR attacks against ABS-CBN are a disservice to the employees who have fought so hard to keep ABS-CBN alive, and to the public that has supported ABS-CBN throughout all its trials,” expressed the network.
They also called out what they noted as “repeated lies” that claim 68 individuals “received preferred treatment” in the payout of their retirement benefits, which, it told, was “designed to sow intrigue among employees.”
“These have been clearly explained to the full ABS-CBN 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,” noted the media giant.
The individuals have also agreed to voluntarily wait until ABS-CBN’s financial position improves before receiving full payment, emphasizing that they did not get preferential treatment
They underscored that, “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 remaining unpaid retirement obligation issue was raised with the ABS-CBN board late last November, with the allegations that a PHP2 billion capital infusion would be used for the payment of retirement benefits being deemed “false,” adding that this has been refuted by all the Board of Directors members except 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 network also stated.
It also told, “The series of press releases claims that many of the decisions around ABS-CBN are not in line with proper stewardship or good investment.”
The company also said that it is “fortunate” to be under the leadership of the line that traces back to its founder Eugenio Lopez, Jr., who is referred to as ‘Kapitan Geny’, as well as Gabby, and now Martin ‘Mark’ Lopez.
It also noted the words of ‘Kapitan’ about the business philosophy of ABS-CBN as a media institution in the country.
“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.”
ABS-CBN then stated that the matter is a family dispute and “should remain so,” but emphasized its belief that it should not be fought in public. Although, they went hard line to say that they will “not shy away from defending itself and any untruths leveled against it.”
“We leave it to the public to decide whether those actions remain true to the family’s espoused values,” they also noted in their statement.
Aside from ABS-CBN, other companies under the Lopez group have also felt the impact of the feud, having their names dragged onto the matter that stemmed from the removal of Piki Lopez as the chief executive officer of Lopez, Inc.—the holding company of the family—which is a matter said to have been brought up to court.
ABS-CBN, once the largest network in the Philippines, has largely pivoted to being a content provider for other networks and platforms.
At present, the name exists as a TV channel through a partnership with ALLTV2, with existing blocktime or content tie-ups with A2Z of Zoe Broadcasting Network, GMA Network, and streaming giants Netflix, Prime Video, Viu, and more.