CBS Broadcast Center in New York Up For Sale From Paramount

Alex Weprin
·1 min read

Paramount is exploring a sale of the CBS Broadcast Center in New York City.

The complex on West 57th street, which spans an entire city block, serves as the headquarters for CBS News, and its studios produce shows like HBO’s Last Week Tonight, various syndicated TV shows, a number of CBS News and CBS Sports programs and other fare.

More from The Hollywood Reporter

CBS chief George Cheeks confirmed the company is exploring a sale in a memo to staff. The New York Post first reported that the Broadcast Center might be going on the market.

“It is true that the company has retained a real estate consultant to evaluate selling the BC and to identify a new home for our teams there,” Cheeks wrote, adding that “we see this as an opportunity to invest in and reimagine a new facility that will support teams that are central to our success today and in the future.”

The CBS Broadcast Center is one of the last major pieces of CBS real estate still owned by Paramount. The company previously sold its Black Rock corporate headquarters, as well as Television City in Los Angeles.

Read Cheeks’ memo below.

Team – You may have seen media reports about the potential sale of the CBS Broadcast Center in Manhattan. It is true that the company has retained a real estate consultant to evaluate selling the BC and to identify a new home for our teams there.

We are in the early stages of this process. The timeline for any potential sale, design and build of a new facility and an eventual move is very hard to predict. If a transaction happens, it will likely be some time before there would be any significant changes to our current operation.

We see this as an opportunity to invest in and reimagine a new facility that will support teams that are central to our success today and in the future.

I will keep you updated on any new information regarding this potential transition as it progresses.

George

Best of The Hollywood Reporter

Click here to read the full article.