Newsweek can no longer hide behind its former parent company, IBT Media, to avoid paying more than $1.1 million in rent arrears at its Financial District offices, Justice William Perry has ruled in state Supreme Court in Manhattan.
The media conglomerate signed a lease for Newsweek’s office space in 2015 at 33 Whitehall St.—years before the weekly magazine was spun off into a separate company in 2018. But when Newsweek began making rent payments from its own company bank accounts and allowing its executives to work with the landlord, Stawski Partners, on rent matters, it took financial responsibility for the lease terms, court documents say.
In court documents
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