gabby lopez man
| | | |

Gabby Lopez: Man on a mission

Who would have thought he’d be back in the game — and in the limelight — again?

Two months after the House of Representatives during the Duterte administration rejected the franchise renewal of ABS-CBN on July 10, 2020, Eugenio “Gabby”Lopez III left his post as chairman emeritus and director of the Philippines’ biggest media network at the time.  

Not only that. He also resigned as director of other Lopez firms: ABS-CBN Holdings Corp., Sky Vision Corp., Sky Cable Corp., First Philippine Holdings Corp., First Gen Corp., and Rockwell Land Corp. 

His resignation was accepted. 

inside track logo

Perhaps for some who were still working for ABS-CBN at the time (including this writer who served as editor-in-chief of ABS-CBN’s news platform), there was only one way to look at it: Gabby had taken responsibility for what had happened. Recall that around 5,000 people lost their jobs after the franchise was rejected. One could compare Gabby’s move to the Japanese behavior for taking responsibility, a sort of hara-kiri by a CEO.  

Many ABS-CBN employees had been frustrated (to say the least) over the company’s stance vis-a-vis Rodrigo Duterte and his administration: often silent, submissive, and accepting of whatever and whenever Duterte attacked the company, even if the then-president was wrong or inaccurate. (READ: TIMELINE: Duterte against ABS-CBN’s franchise renewal)

Looking back, it was a stark contrast to the combative position taken by Rappler during the Duterte years when at least 12 cases were filed against the company and its chief Maria Ressa. Rappler and Ressa have since won all but one of those cases. (READ: SolGen asks SC to acquit Maria Ressa, Reynaldo Santos Jr. in cyber libel case)

But perhaps, given the reality that by law, broadcast franchises in the Philippines are only granted by the House of Representatives, that was the only position a publicly listed company could take. 

Or so Gabby thought. 

Gabby then hibernated for over five years in the US — until he quietly returned late last year as ABS-CBN’s financial crisis persisted following the loss of its lucrative franchise. 

The Lopez cousins’ feud erupted in March, and it was, at the root, all about ABS-CBN and how to save it. 

Part 1: Debt, discipline, and daring: Inside the Lopez Group’s high-risk bets
Part 2: The Lopezes, presidents, and the cost of dissent
Part 3: Lopez vs Lopez: The secrecy fight behind the Razon power deals

Gabby wanted more money to save the company; cousin Federico “Piki” Lopez thought otherwise.

As the dispute worsened, ABS-CBN issued a statement on April 15 on the “PR attacks” that 68 individuals had allegedly “received preferential treatment” in the “payout of their retirement benefits.” In a swipe at Piki Lopez’s argument that more money shouldn’t be poured into ABS-CBN, the statement cited a quote from ABS-CBN founder Eugenio “Kapitan Geny” Lopez: “Profit alone is not enough reason to go into business. But if we serve our people, then I think that our growth and success will follow. If we take care of our people, they will take care of us. That’s the kind of culture a company should have.”

Fast forward to this week, the next chapter in the ABS-CBN saga is being written. 

After selling his family branch’s stake in the ultimate Lopez parent firm Lopez Inc. to San Miguel Corp. chairman Ramon Ang, Gabby has taken another step in his journey to make things right. 

In a statement on Tuesday, August 12, ABS-CBN said that that three branches of the Lopez family – Crème Investment Corporation (Crème), Mantes Corporation, and Presta Holdings Company Inc. – would raise P6 billion in new equity for the troubled media and entertainment firm. 

An investment holding company, I&C Holdings Corp., will subscribe to P3.5 billion worth of ABS-CBN shares, while Lopez Inc. will subscribe to an aditional P300 million.

“ABS-CBN has built valuable brands, intellectual property, content and deep relationships with Filipino audiences in the Philippines and overseas. As the media industry continues to evolve, we believe these assets provide a strong foundation for the company to adapt, build a sustainable content-led business, and create long-term value,” I&C Holdings Corp. said.

“This substantial investment is a vote of confidence in ABS-CBN,” said Mark Lopez, chairman of ABS-CBN Corporation. “It tells us there are people who continue to believe in the company and in our mission of being In the Service of the Filipino.”

The P6 billion will be used to “strengthen ABS-CBN’s balance sheet while giving the company additional resources to execute its transformation into a more sustainable, content-led media and entertainment business.” 

Two days earlier or on Monday, August 11, after Crème Investment Corp., representing 25.7% or around one-fourth of Lopez Inc. was sold to Ramon Ang, Gabby said he sold for two reasons: 

“This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards the restoration of family peace. The second is that it allows me to channel our family’s resources into businesses aligned with our personal mission. We will announce more on this in due time. Our families have known Ramon a long time. I am confident he will be a good partner to Lopez Inc.”

Gabby’s move to make things right for ABS-CBN is back on track. As he emailed to Rappler on Sunday, April 9, “tomorrow (Monday) begins the end of the Lopez saga.”

Years from now, when Gabby’s own biography is written, this chapter is going to stand out. – Rappler.com

Must Read

How to read what Gabby Lopez, Piki Lopez, and Ramon Ang actually said


How to read what Gabby Lopez, Piki Lopez, and Ramon Ang actually said

Similar Posts

  • |

    The Education Dilemma

    By Tuba Khan Literacy is the key to a successful political, economic and social structure of a country. Nations that prioritize education give birth to a strong, responsible and intellectual generation that could foster civic culture in the country. A well-educated and politically aware youth is the backbone of a country’s development. Society can only progress if it invests in its youth, allocating resources and opportunities to young people. Pakistan ranks fifth among the countries having the largest young population in the world. This youth bulge could become a driver of economic prosperity and social progress if quality education and skills development are provided to the youth. Unfortunately, Pakistan lacks an education system that can produce civic-minded, skilled and informed people. The education sector has remained stagnant for several decades and the quality of education is declining day by day, producing an intellectually enslaved generation. Pakistan ranked 164th out of a total of 194 countries globally in education quality, lagging far behind from the other countries in the region. Education in Pakistan is treated as a business for generating revenue and in return creating inequality across all levels of education.   In Pakistan, around 54% of students are enrolled in public sector institutions, where the quality of education and the infrastructure are in a state of severe deterioration. The country’s education standard is so poor that no Pakistani university ranks among the world’s top 350 reputable universities as per QS World University Rankings 2026. Moreover, approximately 26 million children are out of school and those who are enrolled in schools are often products of the rote learning system, unable to think critically and lack the ability to build independent opinions. They are deprived of basic facilities, such as safe and secure buildings, furniture, laboratories, libraries, electricity, clean drinking water, proper sanitation facilities and other basic amenities at the public educational institutions. The outdated syllabus and unprofessional staff at public educational institutions add fuel to the fire, aggravating the education crisis in Pakistan. According to the data provided by UNESCO in 2024, there were 25.38 million students in total for all public and private elementary schools in the country, while only 445,877 teachers were available to facilitate the students. This highlights that there are around 57 children for each teacher. This highlights the ailing condition of the education system of Pakistan.   Despite the educational challenges and poor education system, government spending on the education sector has declined significantly. From 0.8% of GDP allocated to the education sector in 2024, the education spending has dropped to only 0.2% of the federal budget in 2026. Additionally, the privatization of public schools in Punjab is also the biggest failure of the government as it raised the costs and fees, putting a financial burden on low-income families and provoking more elimination of students from the schools. The privatization policy is contrary to the constitutional promise, introduced under the 18th amendment in 2010 of providing free and compulsory education up to Matriculation, exacerbating the education breakdown. This underscores the incompetence of the government in addressing the paramount issue, the root cause of several multidimensional problems of Pakistan.   Education is a fundamental right of every human being and it must be delivered to its citizens by the state. The government of Pakistan must realize that without an educated nation, the country could never be placed on the path of progress. The government should focus on eliminating gender inequality in the education sector while raising awareness in rural areas, making the educational institutions safe for women and holding the institutions accountable. It should encourage digital and vocational training programs, research, practical learning, skills development and the ability of youth to think critically and form independent opinions about the important issues. It is the duty of the government to provide quality education, maintain educational institutions, strengthen checks and balances within the education system, fulfil the constitutional promise of providing free education to children between the ages of 5 and 16 and strengthen the economy so that the middle and lower-middle class can easily afford education. Investing in education is not merely the responsibility of the government, but a national necessity. However, education alone is not enough unless it is coupled with employment opportunities. Otherwise, the youth bulge would become a demographic burden, marked by unemployment, poverty and instability. Pakistan urgently needs reforms in the education sector and strategies to transform the young population from a demographic challenge into a valuable demographic dividend for sustainable growth. The government must treat the education crisis as a priority issue to ensure a prosperous future.

Leave a Reply

Your email address will not be published. Required fields are marked *