Major property acquisition to reshape iconic media site in Quezon City

A landmark transaction has reshaped one of the country’s most iconic media sites.

ABS-CBN Corp. has sold most of its Quezon City headquarters to Ayala Land, Inc. for P6.24 billion under a deed of absolute sale signed on Wednesday. The deal covers about three hectares of property, including the 220-meter broadcast tower and major production facilities that have been part of the network’s operations for over six decades.

The property sale will be paid on installment over 10 years. ABS-CBN will retain ownership of the remaining 1.4 hectares, including the ELJ Communications Center, which houses offices and studio facilities.

Proceeds from the transaction will be used to pare down the network’s outstanding debt obligations. As of June 2025, the company carried P15.7 billion in interest-bearing debt across its core broadcast and cable TV operations.

The deal, first agreed upon in February and approved by ABS-CBN’s board in March, forms part of efforts to strengthen its balance sheet following the non-renewal of its broadcast franchise in 2020.

Ayala Land, for its part, is now in the planning stages for the redevelopment of the site.

Meanwhile, ABS-CBN reported a 60 percent narrower net loss of P852 million in the first half of 2025, as revenues rose 6 percent to P8.28 billion, supported by election-related advertising, hit primetime shows, and international concerts.