ABS-CBN refutes family dispute claims

ABS-CBN Corporation has denied allegations linked to an internal family dispute, clarifying that the company is not involved in the case and disputing claims cited in recent reports.

In a statement, the network’s board of directors addressed two issues it said were incorrectly attributed to court records, stressing that both claims lack basis.

“First, on the claim of ‘unresolved audit findings.’ There were no audit findings. There is nothing to resolve. This claim is unfounded.”

The board also dismissed speculation surrounding the use of funds tied to a proposed capital infusion.

“On the claim that the proposed capital infusion could go to ‘payouts for certain executives.’ No such payouts have been made. No such payouts are planned. This claim is equally baseless.”

The clarification comes as the company continues to navigate operational challenges following the loss of its broadcast franchise in 2020, a setback that significantly reshaped its business model and revenue streams.

Despite these pressures, the board emphasized that the company remains focused on sustaining operations and delivering content, adding that it should not be drawn into disputes unrelated to its business.

“Since losing its franchise in 2020, the company has faced challenges unlike any in its history. ABS-CBN has not stopped fighting to ensure its continued existence. It has not stopped serving. The last thing it needs is for its people to be misrepresented in a dispute it is not involved in.”

The board reaffirmed its support for management, underscoring the company’s continued commitment to its public service role.