WarnerMedia plans to sell off its venerable CNN Center, the longtime hub of its flagship cable-news network, as more media companies look to divest long-held real estate assets at a moment when the…
Center, the longtime hub of its flagship cable-news network, as more media companies look to divest long-held real estate assets at a moment when they are navigating through a challenging operating environment.
In a note sent to Atlanta staffers Monday, WarnerMedia Chief Financial Officer Pascal Desroches said the company had been considering what to do with its Atlanta CNN hub even before it was acquired byin 2018, but put those discussions on hold. “Now that we’ve had time to further evaluate, we’ve concluded that the best course of action is to sell the CNN Center.”
Even so, some employees will likely remain at those offices for some time. A person familiar with the matter indicated the company could lease the facility back from any buyer for a period of five years.
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