The P6.24-billion transaction, to be paid over a 10-year installment plan, covers three hectares of land, including the 220-meter broadcast tower and major production facilities.
ABS-CBN will retain the remaining 1.4 hectares, which includes the ELJ Communications Center that houses offices and studios.
Proceeds from the sale will be used to pay down outstanding loans under a mortgage agreement with its lenders.
The transaction, first agreed upon in February and approved by ABS-CBN’s board in March, is part of broader efforts to stabilize its finances following the company’s broadcast shutdown in 2020 after President Duterte's allies in Congress voted to deny its franchise renewal.
ABS-CBN pays down debts
As of June 2025, ABS-CBN held P15.7 billion in interest-bearing debt across its core and cable TV operations.
Ayala Land is now in the planning stages for the redevelopment of the acquired property.
Meanwhile, ABS-CBN narrowed its first-half 2025 net loss by 60 percent to P852 million, as election ads, hit primetime shows, and global concerts lifted revenues by 6 percent to P8.28 billion.
—Edited by Miguel R. Camus
