Beyond the ratings battle, the business has never been just about profit, a point underscored by Menardo G. “Butch” Jimenez Jr., a scion of the GMA Network media empire.
“While I will not comment on the corporate intramurals between the Lopez families most of which are personal friends of ours on all sides, I will have to share a thought on ABS CBN,” said Jimenez, who belongs to one of three controlling families behind the P20 billion media group.
“Notwithstanding the fact that we have been competitors for decades, our family has always acknowledged and appreciated the service ABS CBN has provided to the Filipino people,” he added in a Facebook post accompanied by a family photo with ABS-CBN Carlo Katigbak.
Beyond the bottom line
“In my humble opinion, their existence cannot be measured only by pesos and profit. They may have lost a lot, but the Filipinos they serve have gained much more,” he said.
Jimenez, who also serves as chief operating officer of telco giant PLDT Inc., also sits within a broader media ecosystem, though he does not directly oversee those businesses.
PLDT controls TV5, another major broadcast platform, underscoring how industry lines can blur in challenging moments.
“God speed to Team Kapamilya,” Jimenez said.
Jimenez’s remarks come as ABS-CBN faces internal tensions within the Lopez family and the need for fresh capital. Majority family members have since pledged support to stabilize the company and keep its recovery on track.
—Edited by Miguel R. Camus
