News Corp., Fox Exploring Move to World Trade Center (Report)
The companies say they are exploring options on the location of headquarters.
Rupert Murdoch is considering a move downtown.
News Corp. and 21st Century Fox are looking at the new 88-story World Trade Center skyscraper, according to The New York Times, citing real estate and government officials.
Although the companies split in 2013, both are headed by Murdoch and may enjoy physical proximity to each other. If the move does happen, the companies could be working in tandem in an effort to swing a better deal. On the other hand, there's no logistical reason why both companies need to be neighbors. A company spokesperson would only confirm that both companies "are each exploring options for their New York headquarters and the process is ongoing."
The WTC's offices, rebuilt after the devastating terrorism attack on September 11, 2001, is controlled by the Port Authority of New York and New Jersey as well as developer Larry Silverstein. Negotiations on Murdoch company occupancy have taken place over the last several months, according to the NYT.
Currently, News Corp. and 21st Century Fox are both in midtown Manhattan, east of Times Square and a stone's throw away from NBC's studios as well as the Time-Life Building. Other companies, like Disney and Viacom, are also in the neighborhood.
On the southern tip of the Manhattan island, there are a few financial firms, which should suit News Corp.'s Wall Street Journal (no word yet on whether the newsroom would join the move), though not as many big firms as yore as some of the larger financial institutions have moved operations across the Hudson River to New Jersey.
With commercial real estate always tight in Manhattan, creatives have recently taken a harder look at a downtown spot. According to a report released late last year by LaunchLM, 32 percent of Manhattan leasing by technology, advertising and media companies happened in lower Manhattan compared with 14 percent from 2007 to 2010.
If the move is completed, Murdoch — an Australian native who became a naturalized U.S. citizen in 1985 — will likely have a view of the Statue of Liberty.