Gannett has been “actively engaged in finding ways to use our real estate assets more efficiently,” Chief Executive Officer Gracia Martore said during the company’s third-quarter earnings call in October. The company is considering “all options” for its real estate, including its 650,000-square-foot headquarters building in Tysons Corner, Va., she said.
Gannett already has put the headquarters of The Des Moines Register, The Indianapolis Star and the Asbury Park Press up for sale.
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Joe:
ReplyDeleteThey sold the old Daily Times property on Carroll Street in Salisbury a few years ago when they were about to go bankrupt!
Yep - they are having to liquidate real estate. The only way to prop-up a floundering balance sheet, by selling their real estate assets.
ReplyDeleteWe saw them doing this first hand in Salisbury.
According to the article - the Rochester building was built by Frank Gannett himself in 1927-28. Wow - they really are in dire straits.
ReplyDeleteWhen the ship is sinking, you gotta chunk some of them bricks overboard.
ReplyDeleteActually, they're just trying to hold on until near the end of Obama's second term, when they are hoping for a bailout. The entire liberal MSM is sinking, too, and they will want their reward for electing and re-electing their hero. The bankers got theirs from W, Wall St. got theirs, and the unions got theirs in the "stimulus." It's just a matter of time 'til the newspapers get their payoff, either in a cash bailout or passing a "fairness doctrine" or both.
I hope that they go broke taking all of their POS rags to hell with them. It was Gannett's The News Journal that printed the names and addresses along with a map of the locations of all registered gun owners in their coverage area. This not only put those people, including several law enforcement people, in danger but alerted any 'would be' thief to those households who do not have protection. Gannett is nothing short of a poparazzi rag. Good riddance.
ReplyDeleteThey are frantically attempting to keep the ship from sinking. A little too late for that. Should have gotten rid of alot of the staff years ago and they wouldn't be reduced to selling off real estate esp now in a down market. A meeting is coming up in the next couple of months and the management staff is going to have to do some serious explaining to the Board of Directors. Don't be surprised if there isn't a complete housecleaning of management-from the top on down to the local level publications.
ReplyDeleteIt appears as though some attempt at appeasement of the Board has been going on with the firing of certain editors but it's not going to be enough.
Its bad enough in paper form nobody wants that anymore ,but the bias info is just too much Gannet Sucks
ReplyDeleteRemember all the money spent on the new press machine they got? That was going to be the be all end all of newspapers. The paper changed its physical shape, but the content remained the same, slanted-biased news reports. People want the facts, accurate reporting, and intelligent analysis, with local news articles interest. Gannett has lost touch with real America and sooner rather than later will just plain lose their company.
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