ABS-CBN Corporation Archives

Manila, Philippines – In a historic deal in the Philippine media and entertainment landscape, the country’s largest media conglomerates ABS-CBN and GMA Network have signed a deal where ABS-CBN’s movies from its film and studio catalogue Star Cinema are now licensed by GMA Network for viewing on their channel.

Said deal is significant in the context of the country’s current mediascape, as the two media conglomerates have been neck-and-neck over the past few decades as the leading network in the country.

Gilberto R. Duavit, Jr., president and chief operating officer at GMA Network, said that the partnership is mutually beneficial for both companies.

“To us, we are very pleased because the significance of our partnership today ushers in the possibility of a far broader set of conversations, potential partnerships and cooperation that will have the benefit not only mutually to GMA and ABS-CBN but as importantly, if not perhaps more importantly, to the benefit of the public we both serve – the Filipino viewer.”

He added that looking forward, since they have, as they say, broken the ice, there is great optimism that these conversations will start and continue, and that they look forward to the possibility of this type of opportunity again moving forward.

Meanwhile, Jose Mari R. Abacan, first vice president for program management department at GMA Network, commented, “During my time programming the network and buying the film, I am very happy that after having a lot of relationships with other majors, we will be able to add another group that I have been looking forward to since the beginning. Many thanks, Star Cinema and ABS-CBN. And I am inviting everyone to witness this momentous affair.”

Lastly, Carlo L. Katigbak, president and chief executive officer at ABS-CBN, commented, “Every storyteller’s dream is to have as many people as possible experience their creations. Now, because of the kindness of our friends at GMA, we have the special opportunity to bring our Kapamilya stories to a new audience. We hope the Kapusos find joy and inspiration in viewing our Star Cinema movies and we also look forward to a new era of friendship and cooperation within our small industry.”

Philippines – Philippine conglomerate ABS-CBN corporation which owns namesake media and broadcasting giant has announced that its chairman emeritus and director Eugenio “Gabby” Lopez has tendered his resignation. Lopez has also decided to step down effective immediately as acting director of the conglomerate’s subsidiaries: ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation, and Rockwell Land Corporation.

ABS-CBN said it held an organizational meeting today where the board of directors of the corporation has accepted with regret the resignation of Lopez

“We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through the years. Just like his father, Eugenio ‘Kapitan Geny’ Lopez Jr., Gabby is a visionary and a compassionate leader driven by his love for the Philippines and the Filipino people. He would always tell the men and women of ABS-CBN that being a part of the network is not a job, but a calling,” the board said.

Lopez cited personal reasons for his resignation. According to the press statement issued by ABS-CBN, he expresses his appreciation for the trust of the stockholders as well as to his co-directors and senior management for the privilege of having served with them over the years.

The board of directors has elected today Mario Luza Bautista to fill the directorial position. Bautista, who is 66 years old, has served as the general counsel of the company and has been a member of the company’s board of advisors since 2011. He is also a board adviser of First Philippine Holdings Corporation.

ABS-CBN Corporation’s flagship media network has been shut down in May by the country’s National Telecommunications Commission due to its franchise expiry. Starting July, a number of its broadcast personalities has subsequently announced their resignation from the network.