The fire, P.M.News gathered, started at around 6p.m and it destroyed all the equipment and studios including that of massive Tinsel, Supersports, Jara, Studio 53 and the live audience studio normally used for the Glo Naija Sings, all located within the Phillip Building before the arrival of men of the Fire Services.
The cause of the fire could not be ascertained as at press time.
However, no life was lost during the incident.
But the magnitude of the loss, we learnt, actually dampened the spirit of the top executives of the multinational cable and satellite content company who are in the thick of preparations for the highly anticipated debut edition of the AfricaMagic Viewers Choice Awards, coming up next Saturday 9 March.
An official of the company who spoke to PMNews last night gave an assurance the fire would not affect the continental awards.