Boston, MA 09/15/2014 (wallstreetpr) – According to reports, the senior management of Twenty-First Century Fox Inc (NASDAQ:FOXA) is looking forward to shifting the base of the company from Midtown Manhattan headquarters. The information was shared by a few people close to this matter on the condition of not revealing their names. Currently, Twenty-First Century Fox Inc (NASDAQ:FOXA) shares its headquarter building with News Corp.
Possible Reason:
There is no official decision has been taken, but various rumors are getting people’s attention. According to one such rumor, John Nallen, Chief Financial Officer and James Murdoch, Co-Chief Operating Officer of Twenty-First Century Fox Inc (NASDAQ:FOXA) are evaluating company’s needs. The person who revealed this information said that FOXA didn’t take the final decision to move its base. The management is thinking over this issue and evaluating various options, if the results of the evaluation don’t require the company to change its base; then it won’t be done. Both the options are open in front of the management. A final decision is expected to come in a few days time.
Road Ahead:
If the decision of shifting the base from Midtown Manhattan is materialized in the near future, then it will take the separation process a step further of both the companies owned by Murdoch. Fox is owned by Fox News; FX, that is a broadcast network stayed at the Avenues of Americas with Hollywood film and TV studio after previous year’s splitting transaction. Two of its publications, which are prime most publications of the world i.e. The New York Post and The Wall Street Journal, are also in the same building.
It is located between 47th and 48th streets on a diagonal angel Rockefeller Center. As per the reports, it’s owned by Beacon Capital Partner and Ivanhoe Cambridge in a partnership deal. The latter one is Callahan Capital Properties; the second largest fund manager of Canada. The current lease expiration period will expire in 2020. Although people talked about this issue, but they were not sure if the News Corp. was also looking to move its base from the same building.
