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	<title>Observer &#187; News Corp. Signs On With Related’s Rail Yards Bid</title>
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		<title>Observer &#187; News Corp. Signs On With Related’s Rail Yards Bid</title>
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		<title>News Corp. Signs On With Related’s Rail Yards Bid</title>

		<comments>http://observer.com/2007/10/news-corp-signs-on-with-relateds-rail-yards-bid/#comments</comments>
		<pubDate>Tue, 16 Oct 2007 23:23:57 -0400</pubDate>
					<link>http://observer.com/2007/10/news-corp-signs-on-with-relateds-rail-yards-bid/</link>
			<dc:creator>John Koblin</dc:creator>
				
		<guid isPermaLink="false">http://www.observer.com/2007/10/news-corp-signs-on-with-relateds-rail-yards-bid/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/breaks-stephenross1v.jpg?w=201&h=300" /><span style="letter-spacing: -0.1pt">The sizable shadow that real estate and media titans have cast over the West Side rail yards—including </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Stephen Ross, S.I. Newhouse, Steven Roth, Douglas Durst, Jerry Speyer, Gary Barnett, Ric Clark</span></strong><span style="letter-spacing: -0.1pt">—has only gotten bigger. </span>
<p class="text"><span style="letter-spacing: -0.1pt">As <em>The Observer</em> reported online this week, </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Rupert Murdoch’s News Corporation</span></strong><span style="letter-spacing: -0.1pt"> has joined Mr. Ross’ </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Related Companies</span></strong><span style="letter-spacing: -0.1pt"> in its bid for the right to develop the rail yards, a source familiar with the bid said.</span></p>
<p class="text"><span style="letter-spacing: -0.1pt">If Related won the bid, News Corp. would move from its headquarters at </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">1211 Avenue of the Americas</span></strong><span style="letter-spacing: -0.1pt"> into a new tower built over the rail yards, the source said. Last week, <em>The Observer</em> reported that </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Condé Nast</span></strong><span style="letter-spacing: -0.1pt"> would leave </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">4 Times Square</span></strong><span style="letter-spacing: -0.1pt"> for a new, </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">1.5-million-square-foot</span></strong><span style="letter-spacing: -0.1pt"> tower if Mr. Durst and Mr. Roth’s </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Vornado</span></strong><span style="letter-spacing: -0.1pt"> won a bid; and it was also reported that </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Morgan Stanley</span></strong><span style="letter-spacing: -0.1pt"> had teamed up with </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Tishman Speyer.</span></strong></p>
<p class="text"><span style="letter-spacing: -0.1pt">The source said that it could take months to select a bid winner, but that the</span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'"> </span></strong><span style="letter-spacing: -0.1pt">yards’ owner, the</span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'"> Metropolitan Transportation Authority, </span></strong><span style="letter-spacing: -0.1pt">considered Related, Vornado-Durst and Tishman Speyer the front-runners. The source said that Brookfield Properties’ bid was also being taken seriously, even though it goes without a major tenant, and that Mr. Barnett’s </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Extell Development</span></strong><span style="letter-spacing: -0.1pt"> had, at first look, the least formidable bid. All the developers’ bids were given to the M.T.A. on Oct. 11.</span></p>
<p class="text">The possibility that News Corp., which controls the naming rights to its tower at 1211 Avenue of the Americas, would relocate all but assures that the city will have a high-wattage tenant in the West 30’s, near 11th Avenue, by 2015. </p>
<p class="text">A spokesman for News Corp. would not comment.</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/breaks-stephenross1v.jpg?w=201&h=300" /><span style="letter-spacing: -0.1pt">The sizable shadow that real estate and media titans have cast over the West Side rail yards—including </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Stephen Ross, S.I. Newhouse, Steven Roth, Douglas Durst, Jerry Speyer, Gary Barnett, Ric Clark</span></strong><span style="letter-spacing: -0.1pt">—has only gotten bigger. </span>
<p class="text"><span style="letter-spacing: -0.1pt">As <em>The Observer</em> reported online this week, </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Rupert Murdoch’s News Corporation</span></strong><span style="letter-spacing: -0.1pt"> has joined Mr. Ross’ </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Related Companies</span></strong><span style="letter-spacing: -0.1pt"> in its bid for the right to develop the rail yards, a source familiar with the bid said.</span></p>
<p class="text"><span style="letter-spacing: -0.1pt">If Related won the bid, News Corp. would move from its headquarters at </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">1211 Avenue of the Americas</span></strong><span style="letter-spacing: -0.1pt"> into a new tower built over the rail yards, the source said. Last week, <em>The Observer</em> reported that </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Condé Nast</span></strong><span style="letter-spacing: -0.1pt"> would leave </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">4 Times Square</span></strong><span style="letter-spacing: -0.1pt"> for a new, </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">1.5-million-square-foot</span></strong><span style="letter-spacing: -0.1pt"> tower if Mr. Durst and Mr. Roth’s </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Vornado</span></strong><span style="letter-spacing: -0.1pt"> won a bid; and it was also reported that </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Morgan Stanley</span></strong><span style="letter-spacing: -0.1pt"> had teamed up with </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Tishman Speyer.</span></strong></p>
<p class="text"><span style="letter-spacing: -0.1pt">The source said that it could take months to select a bid winner, but that the</span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'"> </span></strong><span style="letter-spacing: -0.1pt">yards’ owner, the</span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'"> Metropolitan Transportation Authority, </span></strong><span style="letter-spacing: -0.1pt">considered Related, Vornado-Durst and Tishman Speyer the front-runners. The source said that Brookfield Properties’ bid was also being taken seriously, even though it goes without a major tenant, and that Mr. Barnett’s </span><strong><span style="letter-spacing: -0.1pt;font-family: 'Exchange Text Bold'">Extell Development</span></strong><span style="letter-spacing: -0.1pt"> had, at first look, the least formidable bid. All the developers’ bids were given to the M.T.A. on Oct. 11.</span></p>
<p class="text">The possibility that News Corp., which controls the naming rights to its tower at 1211 Avenue of the Americas, would relocate all but assures that the city will have a high-wattage tenant in the West 30’s, near 11th Avenue, by 2015. </p>
<p class="text">A spokesman for News Corp. would not comment.</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
]]></content:encoded>
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