ABS-CBN denies handover talks with Pangilinan group

MANILA, Philippines — ABS-CBN Corp. on Monday denied reports that it was in talks to hand over management control to companies linked to businessman Manuel V. Pangilinan, calling the claims inaccurate.

In a statement, the broadcast giant addressed reports suggesting it planned to turn over management to MediaQuest Holdings Inc. or TV5 Network Inc. — both under Pangilinan’s business umbrella.

“There are no discussions with Mr. Ramon S. Ang or Mr. Pangilinan on turning over the management of ABS-CBN to MediaQuest or TV5,” the company said.

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ABS-CBN clarified that its dealings with Pangilinan-linked firms remain confined to its existing content partnership with TV5 — a tie-up that has allowed the two networks to co-produce select programs since ABS-CBN lost its congressional franchise in 2020.

The company also pushed back on a separate claim that more than P10 billion had been poured into ABS-CBN since 2020. “Lopez Inc. has invested less than P1 billion in ABS-CBN to date,” it said.

The denial comes amid continuing speculation over the future of the media company, which has been the subject of reports tied to an ongoing rift within the Lopez family.

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