Discovery Communications is moving its headquarters as it implements a new real estate strategy. The company’s global headquarters moves from Silver Spring, Md., to New York City in 2019, Discovery announced today.
The company will maintain a Maryland network hub and a northern Virginia technology hub, and will create a national operations headquarters in Knoxville, Tenn. The moves are contingent on the closing of the company’s acquisition of Scripps Networks Interactive.
Discovery President and CEO David Zaslav announced the changes to employees this morning.
“The media industry is rapidly evolving, increasingly global, more consumer focused and more multi-platform and Discovery must evolve with it,” Zaslav said in the announcement. “The decision to move our global headquarters from its founding home is one we do not make lightly.”
The announcement notes that the moves will enable cost-effective use of current facilities and reduction of redundant locations after the Scripps acquisition.
“Founded in Landover, Maryland in 1985, Discovery moved its global headquarters to Bethesda, Maryland in 1991 and then to its current headquarters building in Silver Spring in 2003,” the announcement notes. “The company employs approximately 1,300 people in the Silver Spring area. Scripps’ Knoxville headquarters houses more than 1,000. The sale and closure of Discovery’s Silver Spring building is expected approximately one year from closing the Scripps transaction.”
Please click here for details about each of the planned facilities and other information about the moves in today’s announcement.