ABS-CBN Corp. on Friday announced its studio tour operations and retail businesses will be permanently shuttered on Aug. 31.
In a statement, the Lopez-led media giant said Studio Tours, ABS-CBN Store, Hado Pilipinas, Heroes Burger, and ABS-CBN Studio Experience will stop operations.
“These ventures are part of ABS-CBN’s services to Filipino families affected by the denial of its broadcasting franchise by the House of Representatives last July 10,” it said in a statement.
ABS-CBN has been conducting educational tours inside its Quezon City headquarters since 1997.
ABS-CBN Studio Experience, an indoor theme park located in Ayala TriNoma mall in Quezon City, has only been operating for two years. Its adjacent burger joint Heroes Burger was also closed down.
Hado Pilipinas was an exclusive partnership between ABS-CBN and Japan’s meleap Inc. to introduce the technosport Hado in the country.
ABS-CBN began implementing a company-wide retrenchment program after its congressional franchise was denied.
The media network posted a P3.16-billion loss in the second quarter, as revenues plunged by 55.2% to P4.68 billion.
Shares in ABS-CBN inched up 0.28% to close at P7.25 each on Friday. — AJA
