WarnerMedia to Sell CNN Center in Atlanta to Combine Operations
WarnerMedia to Sell CNN Center in Atlanta to Combine Operations
(Bloomberg) -- AT&T Inc. is selling the CNN Center in Atlanta, part of an effort to centralize employees after taking over Time Warner Inc.
WarnerMedia, the entertainment unit of AT&T, said Monday it will move most of the employees who work at the center to its Techwood campus in Atlanta over the next several years. The company will lease back the CNN Center for at least five years and said there would be no immediate impact on the staffers working there.
“Downtown Atlanta has seen great investment and is quickly becoming an entertainment destination,” WarnerMedia Chief Financial Officer Pascal Desroches said in a note to CNN employees. “The CNN Center is of great value to a third party that specializes in such developments.”
The CNN Center is a landmark in Atlanta. The building was also in the national spotlight in May, when demonstrators smashed its windows and sprayed graffiti on the news network’s logo during nationwide protests that followed the killing of George Floyd.
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