- REAL ESTATE EDUCATION
- MEMBER SPOTLIGHT
- GIVING BACK
News Corp. and 21st Century Fox Consider Move to World Trade Center Site, Officials Say
April 10, 2015
News Corporation and 21st Century Fox, two giant media companies controlled by Rupert Murdoch, are considering building a joint headquarters in a new 88-story skyscraper at the World Trade Center, real estate and government officials said this week.
If a deal is struck, the move by the companies from Midtown Manhattan to a new tower downtown would complete the rebuilding of the office complex destroyed on Sept. 11, 2001. It would also solidify the transformation of Lower Manhattan into a technology and media hub and a lively residential community.
The companies, which include Fox News Channel and The Wall Street Journal, have been in discussions for months with the Port Authority of New York and New Jersey and the developer Larry Silverstein, who has the rights to build the fourth and last office tower at the site, known as 2 World Trade Center, according to the real estate and government officials, who asked not to be identified because the deal had not been finalized.
“This move would establish media hegemony in Lower Manhattan,” said Mitchell Moss, professor of urban planning at New York University. “News Corp. and Fox are in everyone’s living room. It removes any uncertainty that the new trade center would be a major economic engine, and it validates the 15-year effort to rebuild the World Trade Center.”