VVA tapped to manage News Corp's new studio project.

VVA, LLC has been retained to provide project management and tenant representation services for the design and construction of new television studios for News Corporation and Fox News at 1211 Avenue of the Americas.

The new studios will consist of core and shell expansions to the building at the east facade over the Charles Schwab portion of the building and on the west elevation above the tenth floor roof setback. The expansion project will be designed and implemented by building ownership in a build-to-suit arrangement with News Corporation. All new mechanical, electrical and emergency power systems are part of the scope and deliverables with planned completion in the 3rd quarter of 2008.

"VVA's key role will be to represent News Corp and Fox News in the fasttrack delivery of these critical television studios and infrastructure expansion in order to complete the project prior to 2008 election coverage," said Marc Chiapperino, VVA partner leading the assignment.

News Corporation, owned by legendary media mogul Rupert Murdoch, is the parent company of such media propertiesas Fox Broadcasting Network, the New York Post and the newly acquired Dow Jones. A portion of the complex where Fox News currently broadcasts is at the northeast corner of 1211 Avenue of Americas beneath a perpetual stream of headlines on the exterior of the building well known to pedestrians and neighboring buildings on Avenue of Americas. News Corporation, the anchor tenant within the building, continues to expand its space in the building.

VVA's scope of services includes lease negotiations, budgeting, project scheduling, and coordination of the landlord development team for this project.

"The lease amendment has been executed thanks to a lot of hard work and contributions from many individuals representing all the parties involved. As a highly regarded member of the media and broadcast community, we have always been interested in working with News Corp.," stated Chiapperino. "Our goal is to ensure the project's success, add value, and develop a long-term relationship with Fox News and its parent company, Newscorp."

Brokers for the tease transaction included L&L Acquisitions' David Levinson, who represented News Corporation and Josh Kufiloff of Cushman & Wakefield who represented the landlord, Beacon Capital Partners.