Al Jazeera America Pays $45M to Get Out of Midtown Lease

Al Jazeera

Al Jazeera America is not moving uptown (Photo by Spencer Platt/Getty Images) (Photo by Spencer Platt/Getty Images)

Fleeing the American media market comes at a price. And for Al Jazeera America, that price is $45 million.

The Qatari-owned cable news network, which launched less than three years ago and announced last month that it will shut down at the end of April, signed a lease for approximately 85,000 square-feet of office space in 2014—but never moved to the midtown building. The longterm lease was set to expire in 2035, according to landlord Boston Properties’ fourth-quarter earnings report.

Read more over at Commercial Observer

Al Jazeera America Pays $45M to Get Out of Midtown Lease