Tags: Fox | News Corp | World Trade Center

Fox, News Corp. Changes Plans, Won't Move to NY's World Trade Center

Image: Fox, News Corp. Changes Plans, Won't Move to NY's World Trade Center
(AP)

Friday, 15 Jan 2016 05:09 PM

News Corp. and 21st Century Fox Inc., the media companies controlled by the Murdoch family, said they won’t be moving to a new building at the World Trade Center, as previously planned.

The companies will keep their current headquarters at 1211 and 1185 Avenue of the Americas in midtown Manhattan. The two business have options to extend their leases there through 2025.

“We have concluded that a relocation project of this scope could be distracting in the near-term and, given the scale of investment in a relocation of this size, that our resources would be better directed elsewhere,” brothers James and Lachlan Murdoch said in a joint statement to employees on Friday.

The companies said in June they had reached a non-binding agreement with developer Larry Silverstein to move to a new skyscraper, which would be known as 2 World Trade Center.

“Make no mistake: it won’t be long before we find a great company to anchor 2 World Trade Center,” Silverstein said in an e-mailed statement Friday. “Downtown’s momentum is palpable and unstoppable.”

The decision was reported earlier Friday by the New York Post.

 

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News Corp. and 21st Century Fox Inc., the media companies controlled by the Murdoch family, said they won't be moving to a new building at the World Trade Center, as previously planned.
Fox, News Corp, World Trade Center
185
2016-09-15
Friday, 15 Jan 2016 05:09 PM
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