Time Warner Could Save $500 Million On Office Space, Infrastructure--And Invest In Content
Time Warner has already increased investment in TV shows, movies, sports and news by 7 percent since 2008, and intends to invest even more in content.
The media company will save $500 million annually starting soon, by consolidating business services like HR and IT, by moving parts of the company to areas of the U.S. that offer tax incentives, and possibly vacating the iconic Time Warner building in Columbus Circle in midtown Manhattan.
Time Warner currently has more than four million square feet of office space in Manhattan, the NYT reports.
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