Two media giants controlled by Rupert Murdoch — News Corp. and 21st Century Fox — are looking into relocating their headquarters in a new 88-story skyscraper in downtown Manhattan’s World Trade Center, The New York Times reports, citing real estate and government officials.
“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 Times reports.
The joint headquarters would house a wide range of operations run by the two companies, including Fox News Channel and The Wall Street Journal. Talks have reportedly been going on for months with developer Larry Silverstein and the Port Authority of New York and New Jersey.
Silverstein “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,” The Times notes.
Said Mitchell Moss, professor of urban planning at New York University: “This move would establish media hegemony in Lower Manhattan. 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.”