ABS-CBN Corporation has denied claims of a supposed rift within the Lopez family that allegedly reached the courts, dismissing reports that former Chairman Emeritus Eugenio “Gabby” Lopez III sought ₱2 billion in fresh capital from the Lopez Group of Companies.
In a press release issued March 28, the Lopez-led media giant stressed that the allegations were unfounded.
“There were no audit findings. There is nothing to resolve. The claim is unfounded,” ABS-CBN said.
The company also denied rumors of payouts linked to unresolved audit issues.
“No such payouts has been made. No such payouts are planned. The claim is equally baseless,” it added.
ABS-CBN emphasized that it has no involvement in internal matters of the Lopez Group of Companies, reiterating its focus on continuing to serve the public with content despite financial challenges following the non-renewal of its broadcast franchise in 2020.
The statement was signed by ABS-CBN Chairman Mark Lopez, President and CEO Carlo Katigbak, Rafael “Raffy” Lopez, and independent directors Emmanuel de Dios, Honorio Poblador IV, and Randolf David.