MARCH 30, 2026 — The Lopez clan’s internal war over ABS-CBN has spilled into the public eye, and it’s not just about money — it’s about legacy, governance, and who gets to call the shots in one of the country’s most storied media empires.

At the heart of the drama is a proposed ₱2-billion bailout over five years, pitched by Eugenio “Gabby” Lopez III and his allies to stabilize ABS-CBN after years of hemorrhaging losses since its franchise was revoked in 2020. The plan, according to management, was meant to cover obligations like employee retirement benefits. 

But Federico “Piki” Lopez, the current president of Lopez Inc., slammed the brakes, calling the bailout an uneconomic move given the network’s sustained losses — over ₱40 billion since 2020.

Here’s where it gets messy: reports claim that ₱1.2 billion of the bailout would benefit just 68 individuals, many of whom had already received ₱905 million in partial retirement payouts. Add to that the eyebrow-raising bonuses and allowances — ₱2.56 billion in total, including ₱70 million to a single individual — and you start to see why Piki Lopez balked. 

For us who’ve watched ABS-CBN employees lose jobs and struggle since the shutdown, these figures sting.

Gabby Lopez, recently back in the country, insists the bailout is about saving jobs and preserving the network’s legacy. But Piki’s refusal triggered a power struggle: a bloc of directors moved to oust him in February, installing Raffy Lopez in his place. Piki fought back in court, securing an injunction to keep his posts across Lopez Inc. and its subsidiaries. 

The family feud is now a full-blown governance battle.

ABS-CBN, for its part, has denied the allegations. 

“There were no audit findings. There is nothing to resolve. This claim is unfounded,” the company said, stressing that the proposed funding was not meant for executive payouts. 

All directors except Piki signed the statement, including Raffy and Mark Lopez.

So what does this mean for the public? For one, it exposes the cracks in the Lopez family’s united front. We have long seen ABS-CBN as more than just a network — it’s a cultural institution, a source of livelihood for thousands, and a symbol of press freedom. But when the debate shifts from saving jobs to protecting perks for a privileged few, the narrative changes.

This is more than just a family squabble — it’s a mirror of how power, privilege, and accountability collide in Philippine business. The Lopezes are fighting over whether to keep ABS-CBN afloat or cut their losses, but the bigger question is whether ordinary employees and viewers will ever be prioritized over select insiders.

So is this bailout truly about saving ABS-CBN, or is it about cushioning the retirement packages of a select 68? 

(Image: ABS-CBN)