Supporters of ABS-CBN Saddened by Selling of its Compound
ABS-CBN – The owner of the former giant broadcast company will sell a huge part of the compound in Quezon City to Ayala Land, Inc.
One of the most shocking incidents in 2020 was the shut down of the Kapamilya network. It was one of the giant broadcasting companies in the Philippines not just for years but for decades since 1953. Most of the most popular actors, actresses, and singers in the entertainment industry are products of the broadcasting giant.
However, in 2020, ABS-CBN was forced to shut down due to franchise issues. It was followed by the retrenchment of a huge part of the populace of the employees of the broadcasting giant. The actors and actresses were also given their freedom to transfer to other networks.
Many actors and actresses transferred to other networks amid the need to support their lifestyle and their families. There were even Kapamilya executives who received the job offers from other networks. Amid many Kapamilya supporters hoping that the giant broadcast company will be back to operation at its compound in Quezon City, countless people were saddened by the news.
Based on an article on Pep, the owner of the giant broadcast company is set to sell a huge part of the ABS-CBN compound to Ayala Land, Inc. The real estate property measures 44,027.30 square meters and the owner of the giant broadcast company is set to sell 30,000 square meters to Ayala Land, Inc.
Reportedly, the selling of a huge part of the ABS-CBN compound costs P6.2 billion. For the supporters of the giant broadcast company, it is the end of an era. Part of the property that is set to be sold to Ayala Land is the front part of the compound.
Based on the article, the Chapel of the Annunciation is part of those that will be sold by the Ayala Land, Inc. The Millennium Transmitter Tower, the network’s studio, and the Dolphy Theater are also part of the property that ABS-CBN is set to sell to the giant real estate firm.
The Dolphy Theater was the venue of the countless concerts, press conferences, red carpet premiere events, and awards night held by the Kapamilya network. It was also where the wake of the late King of Comedy, Dolphy, was held.