Ayala Land Acquires ABS-CBN Property for $108 Million

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Ayala Land buys part of ABS-CBN's headquarters for $108 million
ABS-CBN faces financial challenges post non-renewal of broadcasting franchise
Proceeds from sale used to pre-pay bank loans and cover losses
Shift to online platforms not sufficient to offset financial struggles
Lopez family faces challenges after public criticism from former President Duterte
Ayala Corp. expands business interests through the acquisition

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Ayala Land Acquires ABS-CBN Property for $108 Million

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