News Corp. owner Rupert Murdoch wants to move his recently purchased Wall Street Journal out of Manhattan’s financial district by the end of the year.
Mr. Murdoch is proposing that the Journal newsroom move out of its home at the World Financial Center adjacent to the World Trade Center site and into his News Corp. headquarters in the “canyon” on Sixth Avenue, according to newsroom sources.
One senior newsroom source with knowledge of the situation said that the move was “very likely” and it’s something that Mr. Murdoch has been “strongly considering” for some time. Another source confirmed it should happen by the end of the year.
Editors and reporters at the paper have been discussing the possible move for some weeks now, but word hasn’t gotten out. The source said that under the plan the editorial department would move into the News Corp building, while some business offices and other parts of Dow Jones would remain at the World Financial Center. One hang-up, said another newsroom source, was how News Corp. would reallocate space since News Corp. headquarters at 1211 Avenue of the Americas are already filled to capacity.
The Journal, which has been located at the World Financial Center since 1983, has had its main newsroom in Lower Manhattan since the paper was first published in 1889.
A News Corp. spokeswoman and a Wall Street Journal spokesman both declined to comment.