Report: iHeartRadio Burbank-bound
April 10, 2013 at 5:38 AM (PT)
Last week, we learned that the BURBANK-based TONIGHT SHOW was moving to NEW YORK when JIMMY FALON replaces JAY LENO. But turnabout is fair play, and it looks like BURBANK will replace the late-night TV show with iHEARTRADIO.
THE BURBANK LEADER reports the NEW YORK-based "iHEARTRADIO has signed on for 20,000 square feet in The BURBANK Studios on a 10-year lease reportedly worth between $5 million and $7 million, according to the property's owner. The space is in the same building on Alameda Ave. that currently houses THE TONIGHT SHOW WITH JAY LENO and NBC UNIVERSAL's news operations, both of which are expected to move out within the next 14 months."
WORTHE REAL ESTATE GROUP Founder JEFF WORTHE told the paper "he thought the company's decision made sense because it already leases space in The Pinnacle, an office building located basically across the street," which houses CCM+E's LOS ANGELES radio cluster.
"You know, there's a lot of logic to having a musical act on air, on the [CLEAR CHANNEL] stations, then obviously they can walk across the street and play at the iHEARTRADIO studio. [CLEAR CHANNEL has] been a tenant of ours for many years, so we're excited to have another division of theirs move in."