End of An Era for ABS-CBN? Broadcasting Giant Makes Deal w/ Ayala Land
ABS-CBN – The owners of the broadcasting giant is set to sell a big part of its headquarters in Quezon City for P6.2 billion to Ayala Land, Inc.
Undeniably, countless programs of the giant broadcasting company have left an inerasable mark in the hearts of the Filipino people. Thus, countless Filipinos are also saddened by a move that seemingly marks the end of an era for the network.
In 2020, many Filipinos who are fond of watching the Kapamilya channel were saddened by the shut down of the broadcasting giant. The franchise issues of ABS-CBN has led to a situation wherein the company is forced to stop its airing.
Following the shut down, a huge part of the populace of the workers of the Kapamilya network lost their job. Countless fans and supporters of the broadcasting giant hoped that it will be back in its normal operation on TV.
However, the recent update seemingly hints that ABS-CBN will no longer be back to operation at its compound in Quezon City. It has been the home of the Kapamilya stars for years and countless events were held in the place.
Based on an article on Pep, the owners of the ABS-CBN is set to sell a big part of its compound to real estate giant Ayala Land, Inc. The whole property totals to 44,027.30 square meters in measurement and the broadcasting giant is set to sell a total of 30,000 square meters to the real estate giant.
Based on the article, ABS-CBN owners is set to close the purchase deal at P6.2 billion. Among the structures that are part of the agreement are the Dolphy Theater, the Chapel of the Annunciation, the Millennium Transmitter Tower, and the network studios.
The Dolphy Theater is one of the most iconic areas inside the compound of the Kapamilya network. Countless awards night were held in the theater that was named after the late King of Comedy, Dolphy.
Many press conference events as well as red carpet premieres were held in the said theater. When the King of Comedy died, his wake was also held at the said theater.
Based on the article, the theater was named after Dolphy in honor of him when he celebrated his 80th birthday in 2008. Reportedly, the Ayala Land, Inc. has yet to reveal their plans on a big part of the property of the owners of the broadcasting giant which they will purchase.
In January this year, it was reported that Albay Representative Joey Salceda filed a new bill seeking the granting of a new franchise to ABS-CBN network so it can return to its operation.