Well, this is huge: News Corp and 21st Century Fox have officially pulled out of their deal to move to 2 World Trade Center. According to a report in the New York Post, the Rupert Murdoch-owned companies have decided to retain their office space in Midtown, with a lease that currently runs through 2020, but could extend through 2025. The media conglomerate was set to take over more than 1 million square feet of space at 2WTC, making it the anchor tenant of the building. Danish starchitect Bjarke Ingels recently signed on to design the tower, part of the larger World Trade Center complex; the future of his design is currently unclear.

Here's a statement from Larry Silverstein, whose Silverstein Properties is the developer behind 2WTC:

"While I am disappointed that 21st Century Fox and News Corp have elected to hold off on moving their headquarters, I am immensely grateful to the Murdochs and their talented team, as well as to the Bjarke Ingels Group and our partners at the Port Authority, for their inspired work over the past year. Make no mistake: it won't be long before we find a great company to anchor 2 World Trade Center. Lower Manhattan has firmly established itself as the neighborhood of choice for the world's most dynamic technology, advertising, media, financial and other creative businesses. Downtown's momentum is palpable and unstoppable—more than 600 firms have moved to Downtown since 2005, leasing over 15 million square feet of space. We at Silverstein Properties remain 100 percent committed to successfully completing this historic rebuilding effort." This is a developing story, and we'll add to it as more news becomes available.

· Fox, News Corp. to keep HQs in Midtown [NYP]

· New 2 World Trade Center Design Wins Praise From Community [Curbed]

· The Final World Trade Center's Tower New Design, Revealed! [Curbed]

· All 2 World Trade Center coverage [Curbed]