21st Century Fox, the famous media company run by Rupert Murdoch, is reportedly looking to move its headquarters from downtown Manhattan, New York City.
Insider sources told Bloomberg that top officials of 21st Century Fox have commenced a review of the company's office needs and may look to move soon. However, the decision hasn't been confirmed and is still in its early stages.
21st Century Fox's New York City headquarters is located at the famed building at 1211 Sixth Avenue. It shares half the space with News Corp, the publishing house also owned by Rupert Murdoch.
About half of the building is occupied by the two Murdoch-owned companies. The office is owned by Beacon Capital and a consortium of other property players including Callahan Capital Properties and Ivanhoe Cambridge.
Beacon Capital Partners LLC, purchased the tower in 2006 for around $1.5 billion. Last year, Ivanhoe Cambridge is joined forces with Callahan Capital Partners to purchase 49 percent stake in the tower, which valued the building at $1.7 billion.
21st Century Fox's lease in the building expires by 2020, The Real Deal reports.
While 21st Century Fox is looking to move its New York City premises, News Corp's subsidiary - News International - was also in talks of shifting its offices from Thomas More Square on St. Katherine's Dock in Wapping, London to The Place, a 17-storey office tower located just beside the Shard Building.
About 1211 Avenue of Americas
The 1211 Avenue of Americas is a 45-floor international style skyscraper gracing the commercial skyline of central Manhattan in New York. Designed by Wallace Harrison of Harrison, Abramovitz & Harris, the building was developed by the Rockefeller Group Development Corporation and completed in 1973. It is popularly called the News Corp. building as it houses the New York office of the "Wall Street Journal" and its parent company, News Corp. owned by Rupert Murdoch.
