ViacomCBS is considering selling the NYC Broadcast Center to raise money

0
83


Sources told On the Money that CBS plans to sell its sprawling New York-based CBS Broadcast Center in Manhattan’s Hell’s Kitchen neighborhood earlier this year.

A source told The Post that the company is “looking” to sell the Broadcast Center, located at 524 West 57th St. between 10th and 11th Avenues – at the end of 2019, it initially sold BlackRock.

Instead, as ViacomCBS looks at its real estate portfolio as a potential source of funding for its streaming ambitions, it has sold BlackRock – its Granite New York headquarters on 52nd Street – and its CBS Studios Center Lot in Los Angeles called “Radford.” . ”

“The company already has another Hollywood studio,” a source told Paramount Pictures.

ViacomCBS sold CBS’s Black Rock headquarters in Midtown earlier this year.
Michael M. Santiago / Getty Images

If CBS sells its Broadcast Center, it is a converted milk processing plant originally purchased by Sheffield Farms in 1952, which would lose its strong presence in New York. A source said that executives at CBS were “worried” about the optics of the city, especially since it sold Black Rock.

However, that could change as ViacomCBS looks to increase costs and make the company more attractive for potential sales.

The CBS building is also known as the Black Rock Building.
ViacomCBS has evaluated its real estate portfolio and decided to sell Black Rock (pictured here) and its Radford lot in Los Angeles.
Michael M. Santiago / Getty Images

This was not the first time CBS had thought of selling the Broadcast Center with “Full Frontal With Samantha Bee,” “Dessus & Mero,” “Last Week Tonight With John Oliver” and, until recently. “CBS This Morning” (now known as “CBS Morning”).

An inside person told The Post Former CBS President David Rhodes, The network has talked about selling the property but it was vetoed by then-CEO Les Moonves.

But now, thanks to a growing streaming industry with a lack of production space and sky-high demand for film and TV shows, the Broadcast Center is well worth the penny.

: A panel for the CBS Broadcast Center is displayed outside the building
Top-ups have previously discussed selling CBS Broadcast Center but have opted against it.
Drew Anger / Getty Images

“The Broadcast Center is a dumpy. A dairy plant is falling beside the methadone clinic,” a source said. “But selling it is profitable. CBS has a whole block.

A CBS spokeswoman declined to comment.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here