MANILA, Philippines (April 2026) — ABS-CBN has issued a strong official statement pushing back against what it calls continued public relations attacks linked to an internal family dispute over the company’s future.
The network addressed recent articles focusing on its retirement fund, stressing that the biggest drop in the pension fund came from payouts to nearly 6,000 employees retrenched after the loss of its franchise in 2020. ABS-CBN described this as proof of its commitment to meet obligations to its people.
Records cited in the statement show that one director proposed shutting down the company without first discussing how to fulfill obligations to employees and retirees. In contrast, the majority of the board reportedly pushed for continued financial support rather than liquidation to protect employee welfare and other stakeholders.
ABS-CBN also refuted claims that 68 individuals received “preferred treatment” in retirement payouts. The company explained that most of these are retirees who agreed to defer full payment until the company’s finances improve. They did this, according to ABS-CBN, so that thousands of separated employees could receive their separation pay in full.
The statement further denied allegations that a proposed P2 billion capital infusion would be used to pay retirement benefits, noting that this has been refuted by all board members except one.
ABS-CBN acknowledged it has faced challenging years since losing its franchise but said it has shown steady improvement. The board and the Lopez family have reportedly commended the company’s progress and emphasized its importance to the country.
The network described the ongoing public releases as a disservice to employees who have worked hard to keep ABS-CBN alive and to the public that has supported it through difficult times.
It stressed that the matter is a family dispute that should not be fought in public, but added that ABS-CBN will continue to defend itself against what it considers untruths.
The statement closed by reaffirming the company’s founding values under Kapitan Geny Lopez, quoting his belief that serving the Filipino people should come first and that taking care of employees will ultimately benefit the company.
Full statement follows.
OFFICIAL STATEMENT
There have been continued PR attacks against ABS-CBN as part of a family dispute over the company’s future.
The latest PR article purports to be motivated by a concern about employee welfare by discussing the retirement fund.
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.
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.
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. Our Board of Directors and the rest of the Lopez family have commended the company’s 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.
There are repeated lies that 68 individuals “received preferred treatment” in the payout of their retirement benefits, 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. They have agreed to voluntarily wait until ABS-CBN’s financial position improves before receiving full payment. 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 remaining unpaid retirement obligation issue was raised with the ABS-CBN board late last November. 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.
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.
ABS-CBN has been fortunate to have been founded by Kapitan Geny Lopez. We were blessed to have spent time under his leadership and that of his son, Gabby. That leadership continues today through our Chairman, Mark Lopez. Each generation has remained true to the values and mission of our founder. It was Kapitan Geny who said, “Our reason for being is and always will be to be in the Service of the Filipino.”
In Kapitan Geny’s own words: “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.”
The series of press releases claims that many of the decisions around ABS-CBN are not in line with proper stewardship or good investment. We leave it to the public to decide whether those actions remain true to the family’s espoused values.
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.
