CBS mulls sale of its West 57th St broadcast center
CBS Eyeing Move from Longtime Broadcast Facilities on West 57th Street
CBS is reportedly considering moving from its long-running broadcast center on West 57th Street, which has been the network’s broadcast home since the 1950s. Sources claim that CBS, now known as Paramount Global after merging with Viacom in 2019, is expected to release a request for proposals, seeking offers on two fronts. One offer could be to sell CBS’s large, 600,000 square-foot center on West 57th, located between Tenth and Eleventh avenues – a site that was formerly a dairy depot. The other offer would be to find a new location in Manhattan capable of becoming the network’s new broadcast home. The ideal scenario for CBS would be to find a single landlord who can both purchase the 57th Street property and lease or sell CBS space they own for the network’s production needs. CBS considered selling the broadcast center several times before and after the Viacom merger, including reports of a possible sale to raise cash in 2019, which the company ultimately decided not to do.
CBS’s senior vice-president for broadcast publicity, Deborah Marcus, declined to comment on the matter.
Frequently Asked Questions (FAQs)
Q: Why is CBS considering leaving its broadcast center on West 57th Street?
A: CBS is considering moving because it is expected to release a request for proposals, seeking offers on two fronts to find a new location in Manhattan capable of becoming the network’s new broadcast home.
Q: How long has CBS been broadcasting from its West 57th location?
A: CBS has had a presence in the building since the 1950s.
Q: Is CBS selling the center or buying a new location?
A: It is reported that CBS may sell its sprawling 600,000 square-foot center on West 57th to a potential buyer, and it’s also looking to find a new location in Manhattan for its new broadcast home.
Q: Is this the first time that CBS considers leaving its West 57th location?
A: No, CBS has mulled over selling its broadcast center several times before and after the Viacom merger, including reports of a possible sale to raise cash in 2019.
Q: When is CBS expected to release its request for proposals?
A: There is no official timeline as to when CBS is expected to release its request for proposals.
Possible revisions:
– CBS considers selling its broadcast center at West 57th St
– West 57th St broadcast center of CBS under review for potential sale
– CBS evaluates possibility of selling its West 57th St studio complex
– Sale of CBS’s West 57th St broadcast center being explored by company
– CBS contemplating divestiture of its broadcast center located at West 57th St.
CBS is reportedly considering the possibility of leaving its long-term base of operations on West 57th Street after merging with Viacom in 2019 to become Paramount Global. The company is expected to release a “request for proposals” to receive offers for the aforementioned 600,000 square-foot broadcast center on West 57th, which has been a part of CBS since the 1950s, and to locate a new broadcast home in Manhattan. If possible, CBS aims to sell the 57th Street facility to a single landlord and simultaneously lease or sell space to CBS for its production requirements. It is unclear how much space CBS will require after some entertainment programs relocated to other locations. Nonetheless, any move, no matter how small, would represent the end of an era for CBS and the far West Side. CBS has previously weighed the idea of selling the property on multiple occasions both before and after the Viacom merger. The company contemplated selling the West 57th facility to raise funds in 2019, but instead opted to sell its office headquarters building – Black Rock. CBS senior vice-president for broadcast publicity, Deborah Marcus, did not offer any comments regarding the matter.