Shareholders of ABS-CBN Corp. on Wednesday gave the green light to a P6-billion new investment infusion, alongside the issuance of additional shares first announced in August.
The capital will come from Lopez family-linked firms Crème Investment Corp., Mantes Corp. and Presta Holding Co. Inc., plus Lopez Inc. and new investor I&C Holdings Corp.
Investors also voted to expand the company’s Board of Directors from seven to nine members—opening seats for representatives of the new backers. Amendments to the Articles of Incorporation, including more authorized shares and the board expansion, will be filed with the Securities and Exchange Commission for final approval.
The proposals passed with backing from holders representing 83 percent of outstanding voting shares.
This funding is central to building the “new ABS-CBN” as the broadcaster grows across streaming, digital, film, music, live events and international markets. President and CEO Carlo Katigbak has said the company is steadily rebuilding after years of financial and operational hurdles.
Recent results show the scale of the challenge: ABS-CBN posted a P1.83-billion net loss in the first half of 2026—more than double the P852-million deficit a year earlier—on a 17 percent revenue drop to P6.88 billion. Amid softer advertising and consumer spending tied to Middle East tensions, high inflation and slow growth, the firm is also carrying out a workforce reduction affecting about 200 roles, or 7 percent of staff.
The fresh capital is seen as a key lifeline to stabilize operations and fund its multi-platform expansion strategy.
