NEW YORK – Time Warner Inc is considering selling its iconic New York headquarters and has asked real estate brokers to evaluate the building's worth, according to sources familiar with the situation.
The company is considering a wide range of options, including selling the midtown Manhattan building and leasing it back, or moving more employees into the building and closing other New York offices, or moving out from the building entirely, one of the sources said on Wednesday. Time Warner owns or occupies space in 15 buildings in the New York metropolitan area, of which 10 are in Manhattan, the source said.
The company has been evaluating its real estate needs for at least a year and hopes to finalize a plan by the end of 2013.
(Reporting by Ilaina Jonas; Editing by Lisa Von Ahn)