After spending hundreds of hours deliberating and thousands of pounds on consultants’ fees in the search for a new London home only to decide to stay put in its Wapping HQ, News International has now declared it cannot afford to upgrade the east London site. The plan had been to improve the sprawling complex next summer and eventually move in News Corp (NYSE: NWS) family members like Dow Jones, MySpace and Harper Collins. But those plans have been shelved because of the adverse economic conditions, according to an internal memo by James Murdoch, CEO of News Corp Europe and Asia, seen by Reuters and MediaGuardian. This could be seen as a blow to News Corp.‘s plans to further integrate its media brands and create synergies where possible—with every executive in one building it’s not far to go for that breakfast meeting about that content-sharing deal. More details at our sister site PC:UK.