ABS-CBN Corp. announced recently that it partnered with property developer Ayala Land Inc. to launch a tent venue at the newly opened Ayala Malls Vertis complex in Quezon City.
Paolo Pineda, who heads the business-development group of ABS-CBN, said the venue will be made available for rent within the fourth quarter. Lessees can pay for the use of the event for live shows, product launches, exhibits and concerts.
According to Pineda, ABS-CBN plans to use the venue for the firm’s own series of shows and concerts. The venue has a 1,140-square-meter main hall and a seating capacity of 1,200 people.
ABS-CBN’s stock price was down 0.15 percent in Tuesday’s trading at the Philippine Stock Exchange after opening at P43. The stock was thinly traded with 24,300 shares and shed 0.35 percent to close at P42.85, a day after President Duterte cited the firm’s television host as supporting government’s antimining stance.