WarnerMedia Sells CNN Center

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WarnerMedia will leaseback CNN Center for an unspecified number of years

CNN
(Image credit: CNN)

ATLANTA, Ga.—The real estate holding company CP Group has announced that it has acquired One CNN Center in the heart of downtown Atlanta for an undisclosed sum. 

As part of the deal, AT&T’s WarnerMedia will leaseback the CNN Center for an unspecified number of years.

The sale had been in the works for some time. WarnerMedia announced that it would sell CNN Center in June of 2020. 

The acquisition was completed via a joint venture with funds managed by Miami-based Rialto Capital Management, LLC (“Rialto Capital”).

CNN has occupied the 1.2 million-square-foot building since 1987 and while many of its shows are now produced in New York and Washington, it remains the cable news network’s global headquarters. 

When WarnerMedia announced plans to sell the iconic building, it said it would centralize most employees at its Techwood WarnerMedia campus in Atlanta. 

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George Winslow
George Winslow

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.