ABS-CBN Corporation has once again denied reports linking the media giant to alleged internal disputes within the Lopez family, following claims of a supposed ₱2-billion infusion from Lopez Inc.
In a statement released to the Philippine Stock Exchange (PSE) on March 30, ABS-CBN dismissed the allegations as unfounded.
“ABS-CBN maintained that the claim that the ₱2-billion infusion would be used for ‘payouts’ for certain executives ‘is baseless’,” the company said.
The network stressed that it has no involvement in matters concerning the Lopez Group and assured stakeholders that such issues will not affect its operations or financial standing.
“ABS-CBN is not a party to the case, and hence, does not anticipate any impact on its operations and financial condition,” the statement added.
ABS-CBN, owned by the Lopez family, is part of the Lopez Group of Companies, which has major investments in the energy and media sectors.