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WarnerMedia to Sell Atlanta’s CNN Center, Sidesteps Threat of Impending Layoffs

Y2kTheNewOldies

Y2kTheNewOldies

https://www.thewrap.com/warnermedia-selling-cnn-center-keeping-some-operations-in-atlanta/

WarnerMedia leadership told staffers Monday that the CNN Center in Atlanta will be sold, downplaying questions about whether the move signals impending layoffs.

Answering questions on an internal FAQ-style information sheet, WarnerMedia leadership explained why the iconic location in Georgia is being sold, but maintained that WarnerMedia will not be leaving Atlanta altogether: “Our strategy is to consolidate our teams in state-of-the-art hubs to maximize collaboration. This is a strategy we are also implementing at our other primary business locations, most recently at Hudson Yards in New York City and our Ivy Station project [in Culver City, California], currently in development. We believe this creates a more collaborative working environment for our employees.”
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DavidEduardo said:
Companies are increasingly getting out of the real estate business unless that is their core purpose. Real estate is a different business and most broadcasters don't need the extra headaches.

CNN was only in Atlanta because it grew out of Ted Turner's original cable operations. Atlanta is not a good news center.
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True I see your point of Atlanta not being a News Center based on how the old WYAY-FM had a failed all news operation a few years ago due to the demos in the area.



Also in an unrelated example Blackstone bought investments in Sunset Bronson, Sunset Gower and Sunset Las Palmas Studios in Los Angeles. Yes Nexstar's KTLA offices and Netflix LA Offices are notable tenants affected by Blackstone investment.

https://deadline.com/2020/06/blackstone-stake-los-angeles-studios-planning-expansion-1202973010/


Back to this article AT&T announced that their remaining Atlanta staff is moving to Midtown Atlanta to Techwood.

https://www.georgiatrend.com/2018/03/01/ga-ga-land/

If you are wondering why AT&T moving their CNN Atlanta Offices to Techwood this may be a clue here. Part of this is to reduce costs of doing Film and TV shows in their Budgets where doing a show near the CA-134 Freeway corridor would cost more or in NYC would have expenses than doing it in Georgia as in this release.


Y’all listen up – Y’allywood is No. 1 at the box office. In 2016, Georgia overtook California as the top location for production of feature films – 17 of the top 100 grossing movies were filmed here. Feature film and television shoots led to an economic impact of $9.5 billion in fiscal 2017 and $2.7 billion in direct spending.

In Metro Atlanta, and a few other parts of the state, film studios and sound stages are sprouting up or planning expansions. And as a native workforce trained in film production reaches critical mass, the studios are having an impact on jobs but also on housing, new business, retail and hospitality.

The movie business isn’t as transient as people think, says Frank Patterson, president of Pinewood Atlanta Studios, which vaulted the city into Hollywood territory by serving as the home for many of the Marvel movies (most recently Black Panther and the upcoming Avengers: Infinity War) among other large productions. “When we started the very first year, 90 percent of the [license] plates were California – it was all rental cars and California plates. Now you walk out on the lot, and it seems like 80 to 90 percent is Georgia,” he says.
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RadioPatrol said:
True I see your point of Atlanta not being a News Center based on how the old WYAY-FM had a failed all news operation a few years ago due to the demos in the area.
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CNN's audience (national) has nothing to do with WYAY's audience (in metro Atlanta).

David was suggesting that very little of national importance happens in Atlanta, therefore Atlanta-based reporting staff are working the phones all the time to reach sources elsewhere. Which I don't necessarily think is a bad thing.
 
DavidEduardo said:
Companies are increasingly getting out of the real estate business unless that is their core purpose. Real estate is a different business and most broadcasters don't need the extra headaches.

CNN was only in Atlanta because it grew out of Ted Turner's original cable operations. Atlanta is not a good news center.
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Is any part of the old Turner empire (TBS, TNT, TCM) going to be based out of Atlanta anymore? Or has it all moved to the usual SoCal locations?
 
installLSC said:
Is any part of the old Turner empire (TBS, TNT, TCM) going to be based out of Atlanta anymore?
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They still own Turner's Techwood Drive building, the original home of CNN, and they've been transferring a lot of the downtown staff to that building.

But obviously the NY and DC facilities have become more core to that operation.

Unfortunately that building became a target during the protests because of the big logo out front. Now that logo will disappear.
 
TVCOOL said:
If Warner Media has money trouble then explain how they're paying AEW millions for the TV rights?
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Companies still spend during periods of cost cutting.

I hardly think the amount of money Warner is putting into its little wrestling operation is causing any great consternation in the boardroom or on Wall Street.
 
CNN has some big problems. I would expect layoffs and a new centralized location. Atlanta is fine but not where they need to be. Perhaps they move to a more bureau alignment operating out of more major cities. That would seemingly be a smart move.
 
seatownmedia said:
Perhaps they move to a more bureau alignment operating out of more major cities. That would seemingly be a smart move.
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The story in the OP goes into detail of how they'll handle operations. They haven't originated much programming from CNN Center for several years.

“Our strategy is to consolidate our teams in state-of-the-art hubs to maximize collaboration. This is a strategy we are also implementing at our other primary business locations, most recently at Hudson Yards in New York City and our Ivy Station project [in Culver City, California], currently in development. We believe this creates a more collaborative working environment for our employees.”
Click to expand...
 
BTW the article in the OP says Warner Media will lease back some studios and offices in the CNN Center for a few years after the building is sold. Then they will transition some employees to other Warner Media offices in Atlanta. Perhaps the only obvious change will be the elimination of the CNN Center tours, for which they charge a nominal amount. They might also close the CNN Store, where fans could buy t-shirts and hats.
 
TheBigA said:
BTW the article in the OP says Warner Media will lease back some studios and offices in the CNN Center for a few years after the building is sold. Then they will transition some employees to other Warner Media offices in Atlanta. Perhaps the only obvious change will be the elimination of the CNN Center tours, for which they charge a nominal amount. They might also close the CNN Store, where fans could buy t-shirts and hats.
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Does anybody remember the old warner brothers store that was in the mall at the old world trade center?
 
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