Lopez Inc. is reducing its controlling stake in ABS-CBN Corp., as the media firm secures P6 billion in new equity to rebuild operations and shore up finances after years of losses, the company disclosed to the Philippine Stock Exchange.
Following the transaction, Lopez Inc.’s ownership interest in ABS-CBN will drop sharply to 44.35 percent from the current 78.4 percent. The stake dilution forms part of the company’s capital-raising plan that brings in new investors to strengthen its financial position and support working capital needs.
ABS-CBN will issue new shares to four investor groups, led by local firm I&C Holdings Corp. which is pouring in the largest share at P3.5 billion. I&C is a fully Philippine-owned private investment holding company focused on long-term corporate turnarounds; its subscription will give it a 27.06 percent stake in ABS-CBN.
Three other investors are committing the remaining funds: Crème Investment Corp., Mantes Corp., and Presta Holdings Company Inc. are collectively subscribing to P2.2 billion worth of shares. Lopez Inc. will also invest an additional P300 million in the capital raise.
The deal marks a major shift in the media giant’s ownership structure. Crème Investment Corp.—the private holding vehicle for the branch of the Lopez family descended from the late Eugenio “Geny” Lopez Jr.—will see its stake rise to 5.94 percent from just 0.02 percent. Post-transaction, Mantes Corp. will hold 5.93 percent, while Presta Holdings will own 5.15 percent.
Proceeds from the P6-billion capital infusion will be used for general working capital, balance sheet strengthening, and other corporate requirements.
Subscription agreements were signed on August 12, 2026, and the board of directors approved the transaction the following day. ABS-CBN noted that further details will be disclosed in due course, in compliance with regulatory and legal requirements.
This transaction ends Lopez Inc.’s majority control of ABS-CBN, introducing strong new institutional investors to stabilize the media firm’s finances and fund its recovery efforts. It reflects market confidence in the company’s turnaround potential amid past operational and financial challenges.
