So far, what has actually changed hands is one family branch’s stake in the private company at the very top of the Lopez empire. Whether it leads to a direct ABS-CBN rescue is a question about what Ang, and the Lopez family, do next.

Billionaire Ramon Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc.—which has interests in energy, media and real estate—from one of the branches of the…

RAMON S. ANG | INQUIRER PHOTO / NIÑO JESUS ORBETA MANILA, Philippines — Tycoon Ramon S. Ang has acquired a 25.7-percent stake in Lopez Inc. from Eugenio “Gabby” Lopez III’s…