The magazine publishing company has been at its famous 48-story Rockefeller Center locale since 1959, long before Time Inc merged with Warner Communications to become Time Warner. But it will become an independent company again on June 6, when Time Warner spins it off — and late next year will head to more economical office space at Brookfield Place (formerly known as the World Financial Center) in lower Manhattan, near the former site of the World Trade Center. The company looked at options in New York and New Jersey. But Brookfield Place’s planned $250M renovation — adding lots of upscale restaurants and shopping — plus “the incentive package we received from Governor Andrew Cuomo and Empire State Development drove our decision to stay in New York City,” CEO Joe Ripp says. Time Inc has a long term lease at 225 Liberty Street to occupy six floors and 700,000 square feet of office space. “We have ambitious plans for a modern, open workspace that will be designed to foster a greater sense of community and collaboration across the company, and it will deliver significant cost savings,” Ripp says.
Time Inc To Leave Iconic Time & Life Building For Space In Lower Manhattan
What's Hot on Deadline
'Nashville' Creator Callie Khouri On Tragic Twist, Its Inevitability & Aftermath And Why Fans Should Keep Watching
Bill Maher Under Gun Over Late-'90s Video Condoning Sex Between 33-Year-Old Teacher And 12-Year-Old Student
Latest Business News
- Will Snap’s IPO Help It To Take Facebook Users And TV Ad Dollars?
- Patty Freedman Dies: Theater Publicist & Actress Was 64
- ‘Resident Evil: The Final Chapter’ Grosses Big $33M In China On First Day; Third Highest For Hollywood Film
- Bill Cosby Gets Partial Win In 2004 Rape Case As Judge Limits Witnesses
- Vivendi Execs Probed By Italian Prosecutors After Mediaset Stake Building
- IMAX China 2016 Profits Fall 13% In Wake Of Box Office Slump