Media giant ABS-CBN Corporation has finalized an agreement with Ayala Land Inc. (ALI) for the sale of 30,000 square meters of its Quezon City headquarters for ₱6.2 billion, the company announced on Thursday, February 27, 2025.
In a disclosure to the Philippine Stock Exchange (PSE), ABS-CBN confirmed the signing of a Memorandum of Agreement (MOA) with ALI for the partial sale of its long-standing headquarters in Sgt. Esguerra Avenue, Quezon City.
Under the terms of the deal, ALI will acquire 30,000 sqm out of ABS-CBN’s total 44,027.30 sqm property. The payment will be made on an installment basis, and proceeds from the sale will be used to partially settle the media company’s bank loans.
“Proceeds of the sale of property will be used to partially pre-pay its outstanding bank loans,” ABS-CBN said in the disclosure.
Despite selling a significant portion of its headquarters, ABS-CBN assured stakeholders that its operations will continue. The remaining 1.4 hectares will be retained for offices, production studios, and other facilities, allowing the company to consolidate its activities.
“ABS-CBN will be consolidating its operations in the remaining 1.4 hectares of the Quezon City property,” the company stated.
The agreement is still subject to regulatory approvals, including potential clearance from the Philippine Competition Commission (PCC).
The sale is part of ABS-CBN’s ongoing efforts to optimize its assets, especially following its franchise denial in 2020, which significantly impacted its revenue streams. The company has since diversified into digital platforms, partnerships, and content production while adjusting its financial strategies.
