Fox and News Corp. Ditch Plans to Move Into 2 World Trade Center

Posted On Fri, January 15, 2016 By

Posted On Fri, January 15, 2016 By In Financial District, Major Developments, New Developments, Starchitecture

Big news on the 2 World Trade Center front. After several months of negotiation and hashing out design plans, News Corp. and 21st Century Fox Inc. have decided not to move into the new tower. The Post first broke the news, reporting that the media companies will remain at their Midtown headquarters at 1211 and 1185 Sixth Avenue where they currently have a lease in effect until 2020.

“After much careful consideration we have decided to maintain our New York headquarters and other business operations. We have extension options that could continue our occupancy on Sixth Avenue through 2025,” the companies wrote in a joint statement. Sources added that the move would have been “a huge distraction for the companies’ global operations.”

Fox and News Corp. were slated to take on more than 1,000,000 square feet of the tower (expected to be the most expensive ever built at $4 billion) as the anchor tenant, and the design crafted by starchitect Bjarke Ingels was to accommodate their media operations.

Developer Larry Silverstein expressed disappointment over the news, but no real concern regarding the hunt for a replacement tenant. In a release distributed by his company Silverstein Properties this afternoon, he said: “Make no mistake: it won’t be long before we find a great company to anchor 2 World Trade Center… Downtown’s momentum is palpable and unstoppable.”

No word on how this will change Ingels’ design for the skyscraper.

[Via NYP]


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Neighborhoods : Financial District



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