Undated photo shows ABS-CBN's gate in Quezon City.
The Philippine STAR / File
MANILA, Philippines — While it believes that the ongoing Lopez family dispute “should not be fought in public,” media firm ABS-CBN Corp. is not shying away from rebutting false claims and attacks against the company, as it also confirmed that one of its directors proposed the firm’s shut down.
In a statement, ABS-CBN said that public attacks on the company’s pension fund, its business performance as well as its leadership prove that those behind them do not have the best interests of the company at heart.
“This is a family dispute and should remain so. We also believe it should not be fought in public. However, ABS-CBN will not shy away from defending itself and any untruths leveled against it,” it said.
With the series of claims that many of the decisions around the company are not in line with proper stewardship or good investment, ABS-CBN said it is leaving it to the public to decide “whether those actions remain true to the family’s espoused values.”
It clarified, however, that repeated allegations that a P2-billion capital infusion would be used to pay out retirement benefits are false, as this has been refuted by all the board of directors members except one.
The company also said claims that 68 individuals “received preferred treatment” in the payout of their retirement benefits “are repeated lies” and are “designed to sow intrigue among employees.”
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