KNOXVILLE, Tenn. (WATE) – Media and entertainment conglomerate Warner Bros. Discovery Inc. will sell their Knoxville office with plans to move into a smaller, leased space next year, the company announced in a memo sent to employees Thursday.
“Following a detailed evaluation, we have made the decision to sell our office building in Knoxville. The employee population in Knoxville is much smaller than the current space accommodates and with the addition of hybrid working options, we can reap the benefits of selling a building which we do not fully utilize,” said Warner Bros. Discovery Chief Financial Officer Gunnar Wiedenfels.
A copy of the memo obtained by WATE 6 says that offices at 9721 Sherrill Blvd in West Knoxville will be sold with plans to relocate operations and employees to an unannounced leased space in June 2023.
Wiedenfels’ cites the company’s use of hybrid and remote working options in the decision to sell the property. The company will continue to use hybrid working options, the memo says, noting that some employees may work fully remote in the future.
The company has about 1,000 employees based in Knoxville, according to a trade industry publication. Online property records show the facility sits on about 35 acres along Interstate 40 in Knox County.
The building is not yet up for sale and Wiedenfels’ memo states “many details still need to be worked through.” Discovery does not know the location of its new office. Employees were told in the memo that there were no changes to the daycare, wellness and café facilities at the current office during the transition period.
WATE 6 asked Warner Brothers Discovery for a comment on the plan outlined in the memo, but the company has not responded as of Thursday afternoon.
Discovery acquired the property in 2017 as part of a $14.6 billion acquisition of Scripps Network Interactive. The company moved their national operations headquarters from suburban Washington D.C. to Knoxville and relocated their global operations to New York City.
Warner Bros. Discovery was created in 2021 when AT&T sold off WarnerMedia in a merger with Discovery Inc.