The iconic headquarters of ABS-CBN Corporation in Quezon City will remain standing for the time being, contrary to widespread expectations that the structure’s demolition was imminent.
The facility continues to house essential operations for programs such as It’s Showtime and TV Patrol, as well as the radio booth for the AM station DZMM.
Ayala Land President and Chief Executive Officer (CEO) Anna Ma. Margarita Dy clarified that the company is still in the preliminary phases of determining the future of the acquired property.
“Not this year and we’re not done with planning by next year,” Dy stated during an interview with the news website Insider.ph.
She further noted that the firm has yet to establish a definite timeline for when the redevelopment of the site will officially commence.
The property sale was a strategic move by the Lopez-led media giant to settle outstanding bank loans following the 2020 denial of its broadcast franchise. ABS-CBN sold a portion of its Quezon City land to Ayala Land for ₱6.24 billion.
The initial redevelopment plan involves the eventual demolition of several key structures, including:
- The studios of It’s Showtime and TV Patrol.
- The radio booths for DZMM and the defunct FM station MOR.
- The network’s mini-chapel.
- The iconic Millennium Transmitter, which is currently utilized by AMBS (ALLTV) to broadcast ABS-CBN content on free-to-air Channel 2.
Once Ayala Land begins the transformation of the site, ABS-CBN will retain only a 1.4-hectare portion of the property, which includes the ELJ Communications Center.