NEW YORK CITY—Citing a desire for closer proximity to business, investment and production partners, Discovery Communications is moving its global headquarters from Silver Spring, MD to New York City.
“New York has been home to the global media industry as well as our partners on Madison Avenue and Wall Street, many of our creative and production community,” says David Zaslav, president and CEO of Discovery. “This is the right choice, at the right time, for Discovery to make New York our new global headquarters. We look forward to our next chapter in New York and our continued evolution as a world-class IP media company.”
Governor Andrew Cuomo says New York's talented workforce, diverse opportunities and commitment to economic development has positioned the state to be at the forefront of the 21st century economy. “Discovery's decision to relocate their global headquarters to the Empire State is proof positive of that commitment, and we are proud to welcome one of the world's leading media companies to help drive jobs and growth in New York.”
No state incentives were provided, according to the governor's office.
With the move, all current Discovery employees and Scripps employees currently located in different facilities in New York will relocate to the new headquarters. Planning for the space and location in New York is underway with the move expected to occur by the second half of 2019.
In July, Discovery announced its $11.9 billion acquisition of Scripps Network Interactives, in transaction that is expected to close early this year.
In addition to its New York global headquarters, Discovery will maintain a Maryland network hub and a Northern Virginia technology hub. It will also create national headquarters in Knoxville, Tennessee, building off the strengths of its current Scripps Knoxville campus.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
