CBS Considers Selling NYC Studio & HQ Amid Cord Cutting Trend

CBS's parent company Paramount is reportedly looking to sell its iconic West 57th Street studio and headquarters in New York City to cut costs as cord cutting and the decline in advertising have cut into profits. CBS is looking to sell the expensive location and look for a cheaper, smaller location for its studios. Recently CBS has moved many of its productions to other cheaper locations. Paramount is sending out requests for proposals to sell the building and find a new location.