NEW YORK CITY—21st Century Fox Inc., Rupert Murdoch's entertainment company, is considering a possible move from the New York headquarters it shares with News Corp., according to Bloomberg.
James Murdoch, co-COO and John Nallen, CFO, are said to be leading a review of Fox's needs, though no decisions have been made. The initiative is at an early stage and the company may decide to stay at its current Midtown location, says Bloomberg's source. Locations being considered weren't clear at press time, but Fox does plan to stay in New York.
A move could take the separation of Murdoch's two media companies a step further. Fox, the owner of Fox News, FX and a broadcast network, along with a Hollywood film and TV studio, stayed at 1211 Ave. of the Americas after the split last year. News Corp. and its two main publications, the Wall Street Journal and the New York Post, also are housed there.
The building, between 47th and 48th streets, sits diagonally across from Rockefeller Center. It's owned by Beacon Capital Partners and a partnership of Ivanhoe Cambridge, the real estate division of Canada's second-largest pension-fund manager, and Callahan Capital Properties.
The current lease expires in 2020, according to Beacon's website. Sources didn't say whether News Corp. is also considering a move. Julie Henderson, a spokeswoman for Fox, declined to comment on any move, as did James Kennedy, a spokesman for News Corp.
Together, Fox and News Corp. occupy about half of the 44-floor 1211 Avenue of the Americas, which has almost 2 million square feet of space. The building houses News and the channel's studios, with about 2,500 Fox employees.
The bulk of Fox's US employees are based on the West Coast, including at its studio in the Century City neighborhood of Los Angeles. Fox had 27,000 employees globally as of June 30, according to data compiled by Bloomberg. News Corp. had 22,000 employees.
Together, the companies also occupy six floors of 1185 Ave. of the Americas, which is located between 46th and 47th streets.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
