It’s now a done deal. Time Warner has sold its iconic Manhattan building at Columbus Circle and is already preparing a move 30 blocks south to the as yet undeveloped Hudson Yards neighborhood. Time Warner CEO Jeff Bewkes sent an email to staff this afternoon letting them know about the move, which is still years away.
“[W]e’re moving forward with a plan to relocate our New York City-based employees at Corporate, HBO, Turner, and Warner Bros. to a new building beginning in late 2018,” Bewkes writes. “[O]ur company currently occupies seven buildings in Manhattan, including our space in Time Warner Center. We expect that moving into a single location will save us three-quarters of a billion dollars in ongoing real estate costs over the next 20 years, which we can reallocate to doing more of what we do best – creating and sharing high-quality entertainment and journalism through great storytelling.”
The Time Warner Center news comes a day after Comcast, the owner of NBC, announced it was building a new state-of-the art facility in what will be Philadelphia’s tallest building. TVSpy has more on the Comcast Innovation and Technology Center.
Bewkes’ note after the jump…