ABS-CBN Board of Directors and Advisors, naglabas ng pahayag sa gitna ng mga pagsubok

• The ABS-CBN Board of Directors and Advisors issued a statement on Friday, April 17 expressing confidence in the company’s long-term value despite the loss of its broadcast franchise
• They said the company remains well-positioned to recover and return to profitability by continuing its shift toward a content-focused business model
• The board also reaffirmed its support for CEO Carlo Katigbak and the leadership team in carrying out the recovery strategy
• They underscored that ABS-CBN continues to serve as a long-standing institution dedicated to Filipino audiences, employees, and media practitioners

The ABS-CBN Board of Directors and Board of Advisors has issued a unified statement on Friday, April 17, expressing continued confidence in the company’s long-term viability, its leadership team, and its role in Philippine media and society. The statement comes as ABS-CBN continues to navigate its post-franchise operations and transition into a diversified content-driven business model.

Composed of directors and advisors from various fields, the group underscored its belief in the organization’s enduring value to the public, emphasizing both its institutional legacy and its ongoing relevance in a changing media landscape.

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The statement begins with a strong affirmation of the company’s identity and purpose:

“We, the undersigned members of the ABS-CBN Board of Directors and Board of Advisors, believe in ABS-CBN as an institution and the value it creates for the viewing public.”

Following this, the board addressed the company’s operational shift after the loss of its broadcast franchise, emphasizing optimism in its ability to adapt and recover through a new business strategy:

“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.”

The board specifically expressed support for CEO Carlo Katigbak, reaffirming the leadership’s role in steering ABS-CBN through structural changes and financial recovery efforts.

The statement then broadened its perspective, reaffirming ABS-CBN’s historical and civic significance beyond its commercial operations:

“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. ”

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The statement concluded with a list of the signatories, composed of directors and advisors who collectively voiced their support for the organization’s direction and leadership.

ABS-CBN is one of the major media companies in the Philippines. Its 25-year franchise expired on May 4, 2020, and the Committee on Legislative Franchises of the House of Representatives officially rejected its bid to secure another franchise on July 10.

Earlier this week, ABS-CBN issued a firm official statement responding to recent allegations involving its retirement fund, financial condition, and internal decisions amid what it called ongoing “PR attacks.” The company denied accusations of preferential treatment and clarified concerns related to employee benefits. It also reaffirmed its commitment to its workforce, particularly in the wake of its 2020 franchise loss. ABS-CBN further characterized the issue as a family dispute and said it would continue to push back against misinformation.

Meanwhile, BINI showed support for ABS-CBN amid the ongoing controversy surrounding the company. The group issued a heartfelt statement expressing gratitude to the company that helped launch their careers. Their message reflected appreciation, loyalty, and shared success with the Kapamilya Network. Fans commended BINI for standing with ABS-CBN alongside other celebrities.

Source: KAMI.com.gh