The Daily Caller

The Daily Caller

Time Warner sells NYC HQ, plans move across town

The twin towers of the Time Warner Center are pictured on the skyline of Manhattan at sunset in New York, Sept. 13, 2007. (REUTERS/Gary Hershorn) The twin towers of the Time Warner Center are pictured on the skyline of Manhattan at sunset in New York, Sept. 13, 2007. (REUTERS/Gary Hershorn)  

Time Warner, Inc., which owns CNN, has unloaded its headquarters in the Time Warner Center and is moving to a new abode on the West Side of Manhattan. Keep your pants on. The move won’t happen until late 2018. The plan is supposed to help them save a wad of cash: “We expect that moving into a single location will save us three-quarters of a billion dollars in ongoing real estate costs over the next 20 years, which we can reallocate to doing more of what we do best – creating and sharing high-quality entertainment and journalism through great storytelling,” wrote Time Warner CEO Jeff Bewkes.

See the news from an internal memo…