ABC News has struggled for identity in recent years, as the TV news spotlight has shifted to cable and the internet. And ABC News' notable shift away from hard news coverage, perhaps in search of viewers, has reduced its relevance in the news ecosystem in the eyes of some observers. Insiders tell Fox News that all this comes as Disney executives voice increasing frustration with the high costs and low returns of the news operation.
Media Research Center Vice President Brent Baker pointed out that media reporters have lost interest in all of the broadcast network news operations, preferring to focus on cable and online sites. He told Fox News that ABC was the “least relevant” of the three broadcast networks' news divisions, apart from its occasional exclusive interviews with newsmakers.
Disney spokespeople declined comment on the sale of the buildings when reached by Fox News, though the transaction was reported in detail by a respected New York real estate publication, the Commercial Observer. The publication said Disney is selling the ABC complex for more than $1 billion to Silverstein Properties, one of the city’s biggest developers.
ABC staffers tell Fox News they have been informed that they will likely be moving far downtown in Manhattan to an area known as Hudson Square, which is not convenient to many commuters. A source with knowledge of the planned move said ABC is seeking about 33 percent less square footage downtown than it currently has, raising the prospect that the move will be accompanied by staff reductions.
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