Five directors signed the statement: Randolf David, Emmanuel de Dios, Rafael Lopez, Honorio Poblador, and Martin Lopez. They were joined by all six advisors: Charo Santos-Concio, Federico Garcia, Salvador Tirona, Antonio Periquet, Cynthia Del Castillo, and Cesar Purisima.
Elected director Federico R. “Piki” Lopez, who had pushed for the company’s closure last year to stem losses, was not among the signatories.
“Notwithstanding the loss of its broadcast franchise, we believe in its qualities as a content-provider, allowing it to pivot its business model and return to profitability. We back the leadership team headed by CEO Carlo Katigbak and are confident in its ability to execute its recovery plan,” ABS-CBN said in a statement on Friday.
“ABS-CBN is more than a media company. It is an institution that has served Philippine democracy and the Filipino people for generations — a mission that remains vital and very much alive. We are committed to its employees, its artists and journalists, and the public it continues to serve,” it added.
—Edited by Miguel R. Camus
