A news report published today makes several claims about ABS-CBN, including that the company’s management could be handed over to Mr. Manuel V. Pangilinan’s group.
This is not accurate. There are no discussions with Mr. Ramon S. Ang or Mr. Pangilinan on turning over the management of ABS-CBN to MediaQuest or TV5. Our relationship with Mr. Pangilinan and his affiliated companies is limited to our existing content partnership with TV5.
The report also states that more than ₱10 billion has been infused into the company since 2020. This is not correct. Lopez Inc. has invested less than ₱1 billion in ABS-CBN to date.
