- News Corp. (NWS -2.1%, NWSA -1.6%) and Twenty-First Century Fox (FOX -2.3%, FOXA -1.7%) are reversing course on a plan to become the anchor tenants at 2 World Trade Center, a new 99-story building, and will be staying at their midtown manhattan home.
- That's from a memo sent by James and Lachlan Murdoch sent to company employees: “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."
- “Make no mistake: it won’t be long before we find a great company to anchor 2 World Trade Center,” said developer Larry Silverstein. “Downtown’s momentum is palpable and unstoppable.”
- The two companies had signed a non-binding letter of intent to lease 1.3M square feet at the new building, including a ground-level studio space. But real estate brokers told The New York Post that the companies got a "compelling" offer to stay put.
- Fox and News Corp. have leases at their Sixth Avenue home that run through 2020, with "extension options that could continue our occupancy on Sixth Avenue through 2025."
- Previously: News Corp., Fox up for millions in incentives for WTC 2 move-in (Dec. 08 2015)
- Previously: Fox, News Corp. to build joint HQ in World Trade Center tower (Jun. 02 2015)
- Previously: News Corp., Fox in talks to move HQ to World Trade Center (Apr. 10 2015)