Stanhope Drops $313M On Longtime BBC Headquarters

Law360, New York (July 16, 2012, 5:07 PM EDT) -- The British Broadcasting Corp. handed off the Television Centre complex, its longtime headquarters, to real estate developer Stanhope PLC for £200 million ($312.7 million), the BBC said Monday, furthering a broader plan to slash costs and shore up business during a funding freeze.

Just more than a year after announcing it would move forward with a property sale in June 2011, the broadcaster on Saturday inked a deal with Stanhope. The parties did not give a financing breakdown or expected closing date, saying only that more...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.