Posted on 06/30/2020 7:01:44 AM PDT by Red Badger
WarnerMedia said Monday it will sell the iconic CNN Center in downtown Atlanta, but that it doesn’t mean the network will abandon the city.
The network will consolidate its Atlanta workforce in a series of offices across town, the same office campus where CNN was first located upon its founding by Ted Turner in the early 1980s.
“Downtown Atlanta has seen great investment and is quickly becoming an entertainment destination,” Pascal Desroches, chief financial officer at WarnerMedia, said in a memo to staff. “The CNN Center is of great value to a third party that specializes in such developments.”
The CNN Center has been a mix of offices and retail space.
The exit of CNN employees will be a gradual process. The company said it plans to lease the CNN Center offices for five years as its move to the so-called Techwood campus is completed.
The sale had been under consideration for some time but was put on hold pending the company’s merger with AT&T, the company said.
Some of CNN’s television operations, including the network’s prime-time schedule, are produced from the company’s new offices in New York’s Hudson Yards development. But the network’s daytime programs, as well as CNN’s worldwide network, are produced out of Atlanta.
In his memo, Desroches stressed that the move should in no way suggest that WarnerMedia is less committed to Atlanta, noting renovations have already taken place in the Techwood offices.
“We feel the long-term benefit of being in one location will be a more collaborative workforce,” he wrote.
The building started out as an indoor amusement park featuring characters from Sid and Marty Krofft.
I think CNN, like the Braves, has discovered that the core of Atlanta is no longer a safe place to be. Sooner or later protesters are gonna breach the walls.
They just want to sell it before it gets burned to the ground..................
...I think CNN, like the Braves, has discovered that the core of Atlanta is no longer a safe place to be. Sooner or later protesters are gonna breach the walls.
Bingo, and the Atlanta Police have registered their “displeasure” also
“The building started out as an indoor amusement park featuring characters from Sid and Marty Krofft.”
Rather watch all of their shows than 2 minutes of CNN.
“Downtown Atlanta has seen great investment and is quickly becoming an entertainment destination,” Pascal Desroches, chief financial officer at WarnerMedia, said in a memo to staff. “The CNN Center is of great value to a third party that specializes in such developments.””
In other words they are getting the hell out of Dodge.
They will never say this but the steep decline of the neighborhood around Turner Field was a major factor in driving the Braves out to the Burbs.
RuhRoh! White privilege moving away from the trouble spot? Doing that would be, well, racis’. Just like the barricade they put up. LOL! Self consuming assclowns.
Torching a Wendy's sounds like "great entertainment" to potential angry mob investors. Can you say delusional?
It was funny when other "news" outlets were reporting the trouble and CNN was reporting someone had spray painted "love" on the CNN sign. Meanwhile, the cops were gearing up to make their stand within the building.
It's called WHITE FLIGHT.
Get out while the getting is good. Funny, were it not so sad.
I used to love to walk in downtown Atlanta, but that was 30+ years ago. I still love to walk, but just not there. Likewise, I made two trips to NYC in the past 5 years and really enjoyed the city walking. I have no desire to go back. Very sad, because I doubt NYC will be safe again in my lifetime, due mainly to DeBlasio and Cuomo.
...I used to love to walk in downtown Atlanta, but that was 30+ years ago.
I used to walk downtown Atlanta back in the 70’s
While I was at Georgia Tech.
My wife went to Georgia State and felt safe then
going to classes and working in local bank
Now, not so much
DirectTV,also owned by Warner Bros. is bleeding red ink. Now it is CNN. This alleged sale of the building will give cover to CNN further reducing its work force. CNN is bleeding to death by a thousand self-inflicted cuts. May the process be slow and painful.
Consolidate = Going Broke
They’d rather have a consolidation than a fire sale................
It will ensue at least the can reap some insurance money.
I bid $3.00, Cash.
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