Governor George E. Pataki and Mayor Michael R. Bloomberg joined The Hearst Corporation President and CEO Victor F. Ganzi to ceremonially inaugurate the company's new landmark headquarters at 959 Eighth Avenue at 57th Street.

The new 42 storey tower will surmount the companys existing headquarters, a landmark art deco building commissioned by William Randolph Hearst and designed by the migr Austrian architect Joseph Urban. The six-storey masonry block with a central courtyard, splayed corners and theatrical statuary, completed in 1928, was always intended to be topped by a tower, although no designs were ever recorded. Some seventy years later, a tower is finally being constructed the new combination of tall structure and a remodelling of the original base will provide almost a million square feet of space for one of Americas largest communications companies. The building is scheduled for completion in 2006.

Lord Foster commented, The Hearst tower expresses its own time with distinction, yet respects and strengthens the existing six-story historical structure. The tower is lifted clear of its historic base, linked on the outside only by columns and glazing, which are set back from the edges of the site. The transparent connection floods the spaces below with natural light and encourages the impression of the new floating above the old.

Governor George E. Pataki said, I am pleased to join Hearst in marking the start of what will be a stunning new addition to the New York City skyline. Hearst and its planned headquarters are fitting symbols of the strength, permanence and innovation of New York. It is successful companies like Hearst that have helped to make New York the global capital it is today.

Mayor Bloomberg added, One of New York Citys most valuable assets and one of its most defining character traits is its unrivalled intellectual and creative capacity. I believe that is why Hearst is making such a major commitment to the city and why corporations such as Hearst, which is driven by its human assets, are one of the citys greatest selling points.

Victor F. Ganzi said, This day represents the dawn of a grand new era for The Hearst Corporation. This vital expansion ensures that we can continue to flourish in our New York City home. Our founder William Randolph Hearst envisioned his company as a vital component of a thriving media, communications and cultural center in the Columbus Circle area. Construction of our headquarters tower will turn his dream into a reality.

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