2 World Trade Center lose its anchor tenant as News Corp and 21st Century Fox reneged on their commitment to move to the tower complex.
According to New York Post Rupert Murdoch's media companies will no longer pursue its plans to transfer their headquarters to the 2 World Trade Center. Instead of moving, they have opted to retain their current office spaces in Midtown on Sixth Avenue. The lease agreement currently in place for the two media giants will run until 2020 and can be extended up to 2025.
A joint statement from the companies said that they have given extensive thought on the pros and cons such move entails and they have arrived at a conclusion that maintaining their current offices is a more viable option compared to moving to 2TWC. They also indicated that they have the option to extend their contracts and are essentially not going anywhere in the foreseeable future.
In June of last year, both companies agreed to sign a non-binding letter of intent that would see Fox and News Corp. occupying 1.3 million square feet of space at 2 World Trade Center. The tower has 2.8 million square feet and the design was created by a Danish architect Bjarke Ingels.
The announcement has led to many speculations about the state and condition of the building but the companies called it strictly a business move and that the structure is perfectly fine and safe.
In a report by Curbed, Larry Silverstein of Silverstein Properties, the developer of the tower, issued a statement expressing disappointment at the cancelation but at the same time showing gratitude to the Murdochs and their companies. He then outlined what his company will do now that their anchor tenants have abandoned the plan.
"Make no mistake it won't be long before we find a great company to anchor 2 World Trade Center. Lower Manhattan has firmly established itself as the neighborhood of choice for the world's most dynamic technology, advertising, media, financial and other creative businesses," Silverstein said. "Downtown's momentum is palpable and unstoppable-more than 600 firms have moved to Downtown since 2005, leasing over 15 million square feet of space. We at Silverstein Properties remain 100 percent committed to successfully completing this historic rebuilding effort."