ABS-CBN says Rockwell Land studying 'redevelopment' of QC headquarters
MANILA, Philippines — ABS-CBN Corp. said Monday it is in talks with Rockwell Land Corp., the property company of the Lopez family, to "redevelop" the network’s headquarters, although parties have yet to strike a final deal.
ABS-CBN issued the clarification in a stock exchange disclosure to respond to an article by Bilyonaryo.com, which reported about a planned demolition of the media company’s headquarters on Sgt. Esguerra Avenue and Mother Ignacia Avenue in Diliman, Quezon City.
ABS-CBN said Rockwell Land had been studying the possibility of giving the iconic building a makeover even before the pandemic.
"However, there is no agreement to date between Rockwell land and ABS-CBN with respect to the property,: the company said.
Citing an anonymous source, Bilyonaryo reported that some operations of ABS-CBN would be transferred to the Eugenio Lopez Jr Communications Center this year as the company prepares to bulldoze the old building.
Bilyonaryo's source explained that very few staff have been working in the headquarters since the painful denial of ABS-CBN’s application for a fresh broadcasting license, which prompted the network to lay off thousands of workers.
The source also said ABS-CBN has plans to sell some of its properties so it can raise money to sustain its operations.
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