ABS-CBN to close more business units


Richmond Mercurio – The Filipino Star

August 29, 2020 | 00h00

MANILA, Philippines – Media firm ABS-CBN is definitely shutting down other businesses this month after its offer to secure a broadcast franchise was turned down last month.

ABS-CBN said its experience and retail businesses are going to shut down for good by August 31.

These companies include Studio Tours, ABS-CBN Store, Hado Pilipinas, Heroes Burger, and ABS-CBN Studio Experience.

“These companies are part of ABS-CBN’s service to Filipino families affected by the denial of its broadcast franchise by the House of Representatives on July 10,” the company said.

Studio Tours, a in-demand service inside the ABS-CBN complex since 1997, welcomes local and foreign audiences and runs educational tours inside the network’s studios where visitors can see behind-the-scenes exclusives of the production of various programs.

The ABS-CBN store, for its part, offers a wide assortment of program, celebrity and network products from the network.

Meanwhile, the country’s pioneering studio city located in TriNoma, the ABS-CBN Studio Experience, is closing its doors after two years of hosting physical attractions and digital innovations.

The indoor theme park has allowed thousands of Filipino families to experience ABS-CBN shows through various attractions.

The Heroes Burger organic burger joint, which debuted in 2018, is also shutting down.

Another experienced ABS-CBN company, Hado Pilipinas, officially ends its journey just a year after launch.

ABS-CBN said earlier that it would reduce investment in non-core businesses as it focuses on companies that generate revenue growth as a result of not renewing its broadcast franchise.

He previously announced the closure of KidZania Manila effective August 31 after five years of learning for children, as well as the closure of ACJ O Shopping Corp., its joint venture with Korean company CJ ENM Co. Ltd., around the end of the year.

ABS-CBN Tulong Center also announced its closure this month after providing free legal and medical assistance to thousands of Filipinos since its inception in 2014.

ABS-CBN’s local TV Patrol programs also had their last news reports yesterday after more than three decades of service.

ABS-CBN ceased broadcasts on May 5 pursuant to a cease and desist order issued by the National Telecommunications Commission following the expiration of the network franchise.

On July 10, the House committee on legislative franchises rejected the network’s offer for a new franchise.


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