ABS-CBN raises $96M as Lopez Inc. gives up majority control
What's the deal? ABS-CBN Corp.Dealroom has a profile for this one. Try Dealroom → has raised ₱6 billion (about $96 million) in fresh equity, diluting longtime owner Lopez Inc.Dealroom has a profile for this one. Try Dealroom → from majority control as new investors step in to fund the Philippine media firm's recovery. The company disclosed the transaction to the Philippine Stock ExchangeDealroom has a profile for this one. Try Dealroom →.
Who's investing? Local firm I&C Holdings Corp.Dealroom has a profile for this one. Try Dealroom → leads with ₱3.5 billion, taking a 27.06% stake. I&C is a fully Philippine-owned private investment holding company focused on long-term corporate turnarounds.
Three other investors — Crème Investment Corp.Dealroom has a profile for this one. Try Dealroom →, Mantes Corp., and Presta Holdings Company Inc. — are subscribing to ₱2.2 billion collectively. Lopez Inc. is adding ₱300 million of its own.
The ownership shift: Lopez Inc.'s stake drops to 44.35% from 78.4%, ending its majority control. Crème Investment Corp., the holding vehicle for the branch of the Lopez family descended from the late Eugenio "Geny" Lopez Jr., rises to 5.94% from 0.02%. Mantes will hold 5.93% and Presta 5.15%.
Why now? ABS-CBN has posted years of losses. The raise is meant to rebuild operations and shore up finances, with proceeds going to general working capital, balance sheet strengthening, and other corporate requirements.
What's the endgame? The deal brings in new institutional backers to stabilise the company's finances and fund its turnaround. Subscription agreements were signed on August 12, 2026, and the board approved the transaction the following day.
The signal: At roughly $96 million, the round sits in the top third of funding deals by size — a notable commitment that reflects investor confidence in ABS-CBN's recovery potential despite past operational and financial challenges.
Read more: context.ph
Image credit: AIB London
