ITV Cymru Wales to move headquarters to Cardiff Bay
ITV Cymru Wales is moving its headquarters to Cardiff Bay on a site next to the National Assembly.
The broadcaster aims to relocate around 100 staff from Culverhouse Cross to Assembly Square by June next year.
Head of news and programmes Phil Henfrey said the location would put their teams "at the heart of things", close to the nation's decision makers.
BBC Cymru Wales is also considering moving its Cardiff headquarters to the city centre or the bay by 2018.
"This is a significant investment that will deliver considerable benefits for colleagues and for ITV viewers in Wales," said Mr Henfrey.
"It puts our journalists and production teams exactly where they should be - at the heart of things, rubbing shoulders with the key newsmakers and decision makers of Wales."
He added: "This move is a significant investment and demonstrates our long-term commitment to public service broadcasting in Wales."
ITV Cymru Wales said the announcement followed a year-long process looking at locations across south east Wales.
Michael Jermey, ITV director of news and current affairs, said: "With Ofcom supporting our regional news proposals, ITV Cymru Wales can look forward to a bright future well into the 2020s.
"The new state-of-the-art facilities will strengthen ITV's presence in Wales while this considerable investment underlines ITV's faith in the team which produces award-winning journalism and programmes for Wales."
Formerly known as HTV Cymru Wales, the broadcaster was originally based in Pontcanna, Cardiff, moving to Culverhouse Cross on the outskirts of the city in 1984.
The Culverhouse Cross site has been earmarked for demolition with plans submitted to build 250 houses there.