They won’t be boxing up the Fox News Channel and moving downtown–at least not anytime soon. The New York Post’s Steve Cuozzo reports plans to move News Corp and 21st Century Fox to Lower Manhattan have been scrapped.
The move, first reported last year, would have brought Rupert Murdoch’s properties, including The Wall Street Journal and Fox News Channel into a brand new, 88-story tower at the World Trade Center.
Instead, the Murdoch properties will remain at 1211 Sixth Avenue in Midtown Manhattan. “They decided a move would be a huge distraction for the companies’ global operations, and would require a scale of investment which would be better directed elsewhere,” a source told the Post.