An unidentified “white knight” investor has reportedly made an initial payment to inject fresh capital into media company ABS-CBN Corporation.
According to sources, the potential investor engaged in talks with former ABS-CBN Chairman Emeritus Eugenio “Gabby” Lopez III to provide new funding aimed at keeping the content company’s operations running. However, the identity of the investor remains undisclosed.
Meanwhile, MediaQuest/TV5 Chairman Manny V. Pangilinan and San Miguel Corporation head Ramon S. Ang have refrained from commenting on speculation suggesting they might invest in the Kapamilya Network.
Reports have also surfaced that Lopez and several of his cousins are considering selling their 71% majority stake in Lopez Holdings Inc., the parent company of the family, though the Lopez camp has maintained silence on the matter.
Besides ABS-CBN, the Lopez family’s corporate holdings under Lopez Holdings include First Gen Corporation, First Philippine Holdings Inc., and Rockwell Land.