NBC did not return repeated calls for comment, but sources say the network has been eager to shed a large portion of its Rockefeller Center space since the 5.8-million-sf landmark was acquired earlier this year by local developer Jerry Speyer and the Crown family of Chicago. The sale price was $1.85 billion. In addition, plans to expand CNBC's Fort Lee, NJ headquarters, reportedly back-burnered when the economy began to sag, may be heating up again.

The six-screen underground multiplex is a sensible match for NBC, since its large, contiguous spaces would be ideal for producing the kind of live-audience game shows and talk-fests that have long been network-television staples. The property's ground-floor entrance would also provide marquis space for high-profile shows such as Late Night with Conan O'Brien, similar to that which David Letterman enjoys a few blocks away at the Ed Sullivan Theater.

The Hell's Kitchen theaters have been a hot-button issue for years. Rumors of their imminent closure sent up a red flag among local activists concerned about the quality and scope of new development in the area. The $4-ticket movie house managed to keep its doors open until February, but as early as 1999 rumors of a Costco discount store taking over the space sent neighborhood watchdog groups into attack mode. The plan never materialized. Worldwide Plaza owner, Chicago-based Equity Office Property Trust, did not return phone calls.