ABS-CBN sells Quezon City property to Ayala Land for PHP 6.24B

Media company ABS-CBN Corporation signed the deeds of absolute sale (DoAS) for a portion of its Quezon City property with Ayala Land Inc., formalizing a PHP 6.24 billion deal on August 20, 2025.

The transaction involves up to 30,000 square meters or 68.14% of ABS-CBN's total 44,027.30 sqm property in Quezon City and includes a memorandum of agreement signed on February 27, 2025.

ABS-CBN plans to use the proceeds from this sale to pay off its outstanding bank loans under a Real Estate Mortgage agreement with lenders and consolidate operations in the remaining 14,027.30 sqm property.

The deal is subject to clearance from the Philippine Competition Commission (PCC) and will help ABS-CBN reduce its debts as it focuses on shifting business strategies.

ABS-CBN reported an attributable net loss of PHP 289.74 million for the second quarter, with gross revenue increasing by 8.89% to PHP 4.04 billion while expenses decreased by 12.37%.