- Posted by Johanna on September 30, 2011 at 9:57 am
- Category: Comic News
The corporate ranks and cable channels including CNN probably will stay in the Time Warner Center at Columbus Circle; the company owns about 1 million square feet in the building. But Time Warner leases an additional 3 million or so additional square feet of office space in the New York area. … [CEO Jeff] Bewkes warned staffers that “it is likely this process may lead to speculation and rumors over the coming months.”
Talk about a self-fulfilling prophecy! Yes, everyone will be wondering just what branches/company pieces will stay in some of the most expensive real estate in the country. Over the last year, most of DC Entertainment has moved to the West Coast, since they’re part of the Warner movie branch, except for Sales & Marketing and comics editorial. As I understand it, the argument was that they needed to stay in the publishing capital, but as the book industry changes, that may no longer be a compelling argument. Of course, it’s all speculation at this point, and any changes would likely require at least a couple of years to implement.
Update: Heidi MacDonald (link no longer available) cites a couple of deals planning for the long term, including a recent renovation, to suggest that a move isn’t happening any time soon.