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Time Warner to relocate New York headquarters to cut costs

17
Jan
2014

(Reuters) – Time Warner Inc will relocate its Manhattan corporate headquarters to the Hudson Yards development from Columbus Circle in a move to bring operations under one roof and cut costs, the company said on Thursday. The media conglomerate that includes HBO and Warner Bros said it sold the space it owns in the Time Warner Center at Columbus Circle for $1.3 billion to real estate company Related Companies, an entity owned by the Abu Dhabi Investment Authority (ADIA) and fund management company GIC. Time Warner will lease the office space at Columbus Circle until early 2019.

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