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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