ABS-CBN Corporation has received regulatory clearance to move its principal office to a smaller facility, paving the way for the handover of its long-time headquarters to the Ayala Group.
The Lopez-owned media firm announced that the Securities and Exchange Commission (SEC) approved an amendment to its Articles of Incorporation, officially authorizing the change in its registered business address.
Following the approval, ABS-CBN will relocate its primary offices to the Eugenio Lopez Jr. (ELJ) Communications Center.
The company is currently consolidating its workforce within a remaining 1.4-hectare section of its Quezon City complex to fulfill a land sale agreement with Ayala Land Inc. (ALI). Under the contractual terms, ABS-CBN must finish relocating its operations to the ELJ center by July.
The transaction stems from an agreement finalized last year between the Lopez and Zobel families, which executed the deeds of absolute sale transferring a large portion of ABS-CBN’s real estate to ALI. The deal covers roughly 30,000 square meters of the network’s original 44,027-square-meter property.
The sale includes the network’s iconic main building along Mother Ignacia Avenue and the historic ABS-CBN Millennium Transmitter, which served as a prominent symbol during the company’s era as a dominant free-to-air broadcaster. Both assets are scheduled to be turned over to ALI before the end of the year.
ABS-CBN intends to allocate the ₱6.24 billion generated from the real estate sale to pay off its maturing financial obligations. The strategy aligns with management’s ongoing efforts to restore company profitability and meet prior commitments made to investors.
Meanwhile, ALI plans to transform the acquired land into a mixed-use commercial and residential complex, leveraging its proximity to major transportation routes, business districts, government centers, and retail spaces.
The property disposal reflects ABS-CBN’s structural shift away from traditional terrestrial broadcasting. Since losing its broadcast franchise, the content creator has pivoted heavily toward digital media platforms and global distribution partnerships.
The media company has exported over 50,000 hours of programming to approximately 50 countries and built a massive online audience, with its official YouTube channels gathering nearly 55 million subscribers.
However, the firm continues to face financial challenges in its push for financial recovery, posting a net loss of ₱813 million for the first quarter ending in March.