News International to sell Wapping Site
Rupert Murdoch's News Internatioanl East London headquarters begin relocating.
Newspaper publisher News International will be selling off their Wapping site, the Guardian reports. "Fortress Wapping", as it is nicknamed, has been the corporation's UK headquarters since NI head Rupert Murdoch bought it in 1985.
News International staff were told about the move in an email on Monday.
In the internal announcement, the "current property market and economic climate" were given as reasons to sell rather than redevelop the 15-acre site. Staff members were told that the company would remain in the Thomas More Square buildings for the "foreseeable future".
In a statement, the news corporation Said, ""News International today announces it is putting its Wapping site up for sale. The decision to sell the 15-acre site follows a review of News International's London property portfolio".
Most of News International's Wapping-based staff have moved to Thomas More Square, with the rest to follow by the end of the year.
The company's shift away from the East London site began in 2005, when its printing moved to regional bases.
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