Dean of Graduate School of Law Reveals Who might be ABS-CBN's Real Owner: "INSIDER INFORMATION"

Fr. Ranhilio Aquino | ABS-CBN office | CTTO
Fr. Ranhilio Aquino, Dean of the San Beda University College of Law on a Facebook post, fearlessly reveals a shocking yet very interesting information regarding the giant network ABS-CBN.

According to Fr. Aquino the knowledge was allegedly given to him by an "insider" but failed to name the latter. However, assured to identify himself if the situation will ask for it.

ABS-CBN Executives | Photo credit to the owner

Read the full intriguing post below:


This was passed on to me by an "insider" to the events relating to ABS-CBN. He will, if the circumstances allow, identify himself.

1. During Martial Law, Marcos took over ABS-CBN that later became BBC (Banahaw Broadcasting Corporation) Channel 2. At the time of Marcos take-over ABS-CBN was heavily indebted. The Marcos government assumed this indebtedness. Greg Cedania saw to the upgrading of the station and its facilities.

2. On April 8, 1986, Cory Aquino, already President, issued Executive Order No. 11, series of 1986 ordering the sequestration of BBC-2, RPN-9, IBC-13, and appointed a Board of Administrators of which my insider source was a member. Ninez Cacho Olivares was another.

3. Gabby Lopez, then claiming to have President Cory's consent and endorsement, then nagged my source to sign the resolution turning over BBC-2 (ABS-CBN) to the Lopezes but my source claims that he tried to avoid encounters with Gabby Lopez. Of the five directors of the Board of Administrators, two were abroad. Two had already signed, and so the signature of my source was necessary.

4. When my informant asked Gabby Lopez what they were going to pay the government for the station, he said that the Lopezes would assume PHP 41 Million of indebtedness that had been used to upgrade the station.

5. My source was aghast: Certainly, the station was worth more than that and after all the improvements that had been introduced, PHP 41 M was a pittance.

6. However when my informant was told in no uncertain terms that Cory Aquino wanted the transfer to take place, he reluctantly signed. Thus the transfer.

The interesting question is whether Cory issued an Executive Order directing the transfer of ABS-CBN to the Lopezes. Or whether there was a contract, or any other relevant instrument. The Board of Administrators could not have done it on its own, because the alienation of seized assets was not among the powers of the Board whose members were considered only trustees.

There are several interesting questions here that even my source will not be able to answer as they are questions of law:

1. Was the Martial Law seizure from the Lopezes lawful?

2. Was the order of seizure issued by the PCGG and affirmed by Cory's Executive Order No. 11, series of 1986 lawful?

3. Assuming the lawfulness of the foregoing, was it lawful for the Board of Administrators to have allowed transfer of the ABS-CBN assets to the Lopez family?

The unsolved mystery of fact is: Where is the document by which Cory Aquino ordered the "return" of ABS-CBN to the Lopez family? It is very likely that there is none because she would not have wanted the paper trail to lead back to her. But that would put into question the officiousness of the actions of the Board of Administrators.


Source: Ranhilio Callangan Aquino


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