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Posts Tagged ‘Time Warner Center’

Morning Media Newsfeed: Cuts at Kushner Papers | Time Warner Sells HQ | Manjoo to NYT

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Layoffs at OC Register, Riverside Press-Enterprise (LA Times / Money & Co.)
Significant layoffs hit the newsrooms Thursday at the Orange County Register and Riverside Press-Enterprise, a troubling sign for the Aaron Kushner-owned publications. Exact numbers have not been released at the Register, although the cuts there are reported to number roughly 35 people. The paper’s editor, Ken Brusic, and most other top editorial managers have departed, according to multiple sources in the newsroom who asked not to be named because they were not authorized to speak. LA Times The elimination of 71 employees, many of them seasoned journalists, marks a sharp reversal by Kushner, who controls Freedom Communications Inc., which owns both papers. The former greeting card executive had spent much of the last 18 months growing his publications, acquiring additional news outlets and hiring more than 100 reporters and editors in the process. LA Observed It’s all about restructuring for the future, including the Register‘s upcoming invasion of Los Angeles County, Kushner says. The “content team,” as he puts it, is now 172 people larger than when he arrived, Kushner writes. Donna Wares, previously announced as editor-in-charge of the LA Register, will become managing editor. Poynter / MediaWire Rob Curley is the new editor of the Register. He replaces Brusic, who the Register says is “stepping down as part of a reorganization of the newspaper’s newsroom.”

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Time Warner Center to Sell for $1.3 Billion

The Time Warner Center is about to be sold. The Wall Street Journal reports that Time Warner is nearing a deal with Related Companies to sell the building for $1.3 billion.

Time Warner’s goal since it asked Eastdil Secured to market the building in April has been to consolidate space. If the Related deal goes through, Time Warner would relocate to a building in Hudson Yards that Related plans to develop.

Time Warner Center, which has been open since 2003, was built by Time Warner for about $520 million.

Time Warner to Gauge Value of Headquarters [Update]

Time Warner’s headquarters, the massive 1.1 million square foot building that is part of the Time Warner Center, is getting a once over. According to Reuters, the media giant has hired Eastdil Secured to market the building in order to see how much it would fetch if it was put up for sale.

Time Warner already owns or rents 15 spots in the city, and it’s trying to cut that number down. A spokesperson for the company said options being considered for its headquarters include keeping it and consolidating within it; selling it and then leasing it back; or selling it and consolidating within other locations.

If you’re sentimental about Time Warner no longer occupying the massive Columbus Circle building, just remember how terrible Time Warner cable is and that feeling should stop fairly quickly.

Update (12:17 pm):
Thanks to the reader who just reminded us that Time Warner Cable isn’t owned by Time Warner any more. However, please note that Time Warner Cable remains awful.