After nearly a year in operation since the removal of the original Eat Bulaga cast in May of the previous year, the Jalosjos family’s beleaguered production company, Television and Production Exponents Incorporated (TAPE Inc.), has ultimately concluded its controversial noontime show, “Tahanang Pinakamasaya.”

This decision comes in the wake of substantial reports indicating outstanding blocktime fees amounting to P57 million owed to GMA Network.

The crippling debt played a pivotal role in the official statement issued on Thursday, March 7, jointly declaring the conclusion of “Tahanang Pinakamasaya” on GMA’s free TV Channel 7, effective Friday, March 8, 2024.

Sources close to the matter reveal that TAPE struggled for eight months to settle its dues with GMA, spanning almost the entire run of the embattled noontime show.

The financial crunch was exacerbated when advertisers, loyal to the iconic TVJ trio—Tito and Vic Sotto, and Joey de Leon—followed them to TV5 after their departure from TAPE in May 2023, Bilyonaryo reported.

Reportedly, during TVJ’s tenure, “Eat Bulaga” raked in a monthly revenue of P200 million, yielding P100 million after production costs and the blocktimer fee to GMA.

However, with the departure of TVJ, TAPE reduced the 30-second ad rates for TP to P40,000, leading to a dire lack of revenue.

Not only was TAPE drowning in debt, but it also failed to generate income, as one source candidly stated, “TAPE wasn’t only deep in debt, it also failed to earn anything.”

As the financial crisis deepened, TAPE found itself unable to settle the salaries of the celebrity hosts on its now-defunct show. In an official statement released on Thursday, March 7, TAPE and GMA jointly declared the end of TP on GMA’s free TV Channel 7 starting Friday, March 8, 2024.

Despite best efforts to salvage the show, both parties reached a mutual agreement to bring an end to TP.

In the statement, TAPE, led by ex-convict Romeo Jalosjos Sr., expressed gratitude to GMA for understanding the unwanted circumstances that led to the demise of the show.

The bitter dispute between Jalosjos’ children and comedy legends Tito Sotto, Vic Sotto, and Joey de Leon (TVJ) regarding the show’s management likely contributed to its downfall.

As a result, TP ran replays throughout the week, with its last episode announced as a “farewell episode” on YouTube.

In a separate statement, GMA revealed that TP would be temporarily replaced by “Lunchtime Movie Hits.”

TAPE acknowledged GMA, thanking the loyal viewers, hosts, advertisers, crew, and employees who have been part of the journey since the show’s inception. Unfortunately, around 100 employees are expected to be affected by the untimely demise of the show.

Former Manila Mayor Isko Moreno and actor-comedian Paolo Contis took the reins of TP after TVJ’s departure from TAPE in May 2023, marking the end of an era for the iconic Filipino noontime show.