You might recognize this store in the picture above.  In fact, Macy’s flagship store on 34th street in Manhattan may be one of the most recognizable department stores in the world.  Part of the reason is because of the 2,200 square foot billboard, built in 1963, on a building adjacent to the Macy’s building which has provided a gateway image to their store for over 50 years.

However, that may be changing as multiple news outlets are reporting that Amazon has struck an agreement with the building owner Kaufman Realty, to take over the billboard space from Macy’s.

Macy’s isn’t going down easily as they have filed suit against Kaufman Realty.  Even though the contract for the space, which was first signed in 1963, had expired at the end of August, Macy’s is arguing that the agreement terms included a clause that limited the billboard’s owners  from selling space on it to any company that sold retail or directly to any consumer.

“The damages to Macy’s customer goodwill, image, reputation and brand, should a ‘prominent online retailer’ (especially Amazon) advertise on the billboard are impossible to calculate,” said the suit filed last week. “Macy’s continues to have rights relating to advertisements at that location,” the retailer said in a statement. “We expect to realize the benefits of these rights and have asked the court to protect them.”

For additional reporting on the story you can link to CNN Business here.

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