Jauhn Etienne Villaruel

Article (news)

ABS-CBN News

The 71% majority of Lopez Inc. asked Federico “Piki” Lopez to accept that they no longer trust him and for him to respect his perfectly legitimate dismissal by a 5-2 vote of the board for cause and loss of confidence.“Piki has been using ABS-CBN issues as a diversion to block his removal, arguing that his removal stemmed from his vote not to fund the network, which is not true,” the majority said in a statement.It added, “We simply do not trust him. We have decided to stop Piki, the minority, from lording it over and making decisions like he alone owns the group.”The majority also called out Piki for his group’s misleading public statements, saying they are his desperate attempt to cling to power. “The 68 ABS-CBN retirees who he claimed received preferential treatment vs. the thousands of other employees, is wrong. The majority of these people, true to the network’s Kapamilya spirit, volunteered to defer part or all of their retirement pay so that other employees could be paid.”The group also revealed that Piki, in refusing to fund the network, proposed instead to close down and liquidate ABS-CBN last year.“He showed no concern for the nearly 4,000 employees who would lose their jobs, how creditors would be repaid, and how the public would continue to be served. The majority, in a gesture akin to their parents’ commitment to serve, voted against his proposal and instead contributed hundreds of millions of pesos—both personally and through their family corporation—to keep the network operating. While challenges remain, there are encouraging signs of a potential turnaround.”In contrast, reports say that Piki inserted a poison pill in First Gen’s deal with Prime Infrastructure. The pill says if he and his “designates” are removed, First Gen potentially could face about P16 billion in penalties. “Only Piki and his designates are the beneficiaries of this poison pill. With maneuvers like this, how can you trust Piki?”“ABS-CBN is an institution that serves the public and the country. It will survive and grow once more. The majority will make sure of that,” the statement said.On Tuesday, April 14, First Gen issued a clarification to the PSE on the reported <a href="https://www.abs-cbn.com/news/business/2026/4/13/lopez-majority-poison-pill-in-p62b-deal-with-prime-protects-piki-from-ouster-1509">poison pill issue.</a>Lopez Inc. is the parent firm of ABS-CBN.

The 71% majority of Lopez Inc. asked Federico “Piki” Lopez to accept that they no longer trust him and for him to respect his perfectly legitimate dismissal by a 5-2 vote of the board for cause and loss of confidence.

The 71% majority of Lopez Inc. asked Federico “Piki” Lopez to accept that they no longer trust him and for him to respect his perfectly legitimate dismissal by a 5-2 vote of the board for cause and loss of confidence.

Lopez majority calls out Piki for clinging to post, cites misleading claims

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Lopez majority calls out Piki for clinging to post, cites misleading claims

ABS-CBN News

Published April 14, 2026 02:15 PM PHT

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Updated April 14, 2026 02:35 PM PHT

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Lopez Inc

Piki Lopez

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