The Lopez family has decided to sell the original ABS-CBN headquarters in Quezon City, where the broadcasting giant has been operating since 1968.
According to Babbler, Rockwell Land, the Lopez family’s property arm, has acquired the 3.4-hectare property on Sgt. Esguerra Avenue and Mother Ignacia Avenue for an undisclosed amount.
The move comes almost three years after ABS-CBN lost its franchise to operate its free-to-air services following a congressional vote on July 10, 2020²³. The resolution affected thousands of workers and multiple businesses under the company.
ABS-CBN has informed some officers and staff that their news offices and facilities, including the iconic Studio 7, which is the birthplace of the popular news show “TV Patrol,” will relocate to the adjacent Eugenio Lopez Jr Communications Center later this year to make way for the planned demolition of the low-rise building.
The sale of the ABS-CBN headquarters marks another chapter in the company’s history that spans over seven decades. The property was previously seized by former President Ferdinand Marcos during martial law and returned to the Lopezes after his ouster in 1986.