ABS-CBN’S Board of Directors and Advisors have reaffirmed their support for the company and its leadership, expressing confidence in its recovery and long-term viability despite losing its broadcast franchise in 2020.
In a joint statement, the group backed CEO Carlo Katigbak and underscored the company’s continued transition into a content provider, while emphasizing its longstanding role in Philippine media and public service.
The statement comes amid ongoing internal tensions within the Lopez family, which controls ABS-CBN through its holding firms.
The conflict reportedly involves differing views on the network’s direction and governance, including earlier proposals linked to Federico “Piki” Lopez that some members opposed, such as the idea of winding down operations — moves that were later rejected by majority stakeholders who argued the company should continue and protect thousands of jobs.
Court rulings in recent disputes have also maintained the current leadership structure, highlighting continuing divisions within the family’s corporate control. (PR)