TV Guide is making a move.
The periodical’s parent company, Gemstar-TV Guide International, Inc., recently signed a multi-year lease for over 85,000 square feet at 11 West 42nd Street, according to a press release. TV Guide’s editorial department and TV Guide Online are among the departments that will be moving. The move, reported by The New York Post earlier today, will happen in December 2007.
Gemstar-TV Guide, which has 300 employees based in New York, currently occupies two floors at the News Corporation building at 1211 Sixth Avenue. In the West 42nd Street building, they will inhabit the 16th and 17th floors and a portion of the 18th, and there will be “a private, internal staircase” connecting the floors.
The full release about the move is below.
GEMSTAR-TV GUIDE SIGNS MULTI-YEAR LEASE FOR NEW OFFICE SPACE IN NEW YORK CITY
Company to Occupy Three Floors at 11 West 42nd Street
July 13, 2007 (Los Angeles, CA) — Gemstar-TV Guide International, Inc. (NASDAQ: GMST), a leading media, entertainment and technology company, announced today that it has signed a multi-year lease for more than 85,000 square feet at 11 West 42nd Street. The office space will house the New York operations of the company including; TV Guide magazine’s editorial department, TV Guide Online, and the primary ad sales staff for the company, among other departments. The move to 11 West 42nd Street is planned for mid-December, 2007.
The new office space includes the entire 16th and 17th floors of the West 42nd Street building, and a portion of the 18th. The floors will be connected by a private, internal staircase meant to encourage close collaboration between employees from the various divisions of the company represented in New York City. Gemstar-TV Guide currently has approximately 300 employees based in New York.
Gemstar-TV Guide’s Chief Executive Officer Rich Battista said, “We’re excited to be relocating our New York offices to a classic building across from Bryant Park. Our space in this building, its configuration and our plans for its design, will help us to fulfill our mission of being a truly collaborative, cross-platform next generation guidance company.”
The space was designed by the New York office of the global architectural firm, HOK.
About Gemstar-TV Guide
Gemstar-TV Guide International, Inc. (the “Company”) (NASDAQ: GMST) is a leading global media, entertainment, and technology company that develops, licenses, markets and distributes products and services that maximize the video guidance and entertainment experience for consumers. The Company's businesses include: television, publishing, and new media properties; interactive program guide services and products; and intellectual property licensing. Additional information about the Company can be found at www.gemstartvguide.com.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that may cause actual performance or results to differ materially from those in the forward-looking statements, including risks and uncertainties related to the timely availability and market acceptance of products and services incorporating the Company's technologies and content; our investments in new and existing businesses; the impact of competitive products and services; and the other risks detailed from time to time in the Company's SEC reports, including the most recent reports on Forms 10-K, 10-Q and 8-K, each as it may be amended from time to time. The Company assumes no obligation to update these forward-looking statements.
Note to Editors: Gemstar, TV Guide, TV Guide magazine, and TV Guide Online are trademarks or registered trademarks of Gemstar-TV Guide International, Inc. and/or its subsidiaries. The names of other companies, products and services used herein are for identification purposes only and may be trademarks of their respective owners.
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