ABS-CBN to stay under Lopez control as new P6 billion funding arrives
ABS-CBN Corp. confirmed that the Lopez family will keep its leadership role despite a fresh P6 billion investment from new and existing shareholders.
The Manila-based broadcaster announced that shareholders approved a capital increase and the issuance of new shares on Sept. 30. The funding will come from Crème Investment Corp., Mantes Corp. and Presta Holding Company Inc., all linked to different branches of the Lopez family, as well as from Lopez Inc. and newcomer I&C Holdings Corp. The move is part of a broader P6 billion infusion plan revealed in August.
Why it matters
The funding aims to stabilize ABS-CBN, a major Philippine media outlet, while keeping its historic family leadership intact.
In this story
ABS-CBNLopez familyP6 billion investmentshareholder approvalnew investorcapital increase
