Newspapers make money on real estate: their own
Steve Safran August 29th, 2007
Free article at WSJ.com today on how some newspapers have decided to make money off real estate. Not by classifieds, mind you - but by selling their buildings. The Philadelphia Inquirer and the Boston Herald are profiled here, and the trend seems clear - the papers are looking for infusions of cash, and there is value to be had in selling their longtime downtown locations.
Adds Rex in comments: “The article makes a passing mention to the Star-Tribune in Minneapolis, which sold its parking lots to create a new dome. There are rumors floating around that the rest of the Star-Tribune’s assets will be sold as scrap material at a value greater than what was recently paid by Avista Capital Partners for the paper.”
2 Comments Add your own
1. ! | August 29th, 2007 at 8:02 am
hey, it beats rosenblum’s suggestion to “burn it to the ground”.
2. Rex | August 29th, 2007 at 10:00 am
The article makes a passing mention to the Star-Tribune in Minneapolis, which sold its parking lots to create a new dome. There are rumors floating around that the rest of the Star-Tribune’s assets will be sold as scrap material at a value greater than what was recently paid by Avista Capital Partners for the paper.
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