Friday, May 27, 2011

One Herald Plaza...then and now

from the Miami Daily News, Oct. 16, 1937: Control of Miami Herald Passes to Ohio Publisher
Control of the Miami Herald was transferred at noon yesterday to John S. Knight, widely known Ohio editor, and his associates by Col. Frank B. Shutts.
from the Miami News, Aug. 17, 1958: Miami Herald announces plans to build $20 million plant on Biscayne Bay.
The new building, according to the announcement, will be geared to a projected circulation of more than 1,000,000 copies daily by 1980.
from the Miami News, July 29, 1966: News and Herald sign agreement
The Miami News has concluded an agreement to have its newspaper printed and distributed by the Miami Herald.
[James M.] Cox, [publisher of the Miami News] said: "To make certain that Miami in the future will not be a city where only one newspaper voice speaks, The News and The Herald have signed an agreement ... The savings from this common arrangement will provide the sound economic base which is essential to free, aggressive, independent newspapers."
from the Miami Herald, May, 27, 2011: Miami Herald parent company McClatchy sells land for $236 million.
Asia’s third largest casino company is paying $236 million for the 14 acres of waterfront land surrounding The Miami Herald, a deal that means a new home for the publishing company and a major new player in downtown Miami’s development boom.
The Herald’s parent company, McClatchy, announced the sale and said both The Miami Herald and El Neuvo Herald would move to another location within two years. Until then, the papers can operate in the current waterfront building for two years. The building also houses Brown Mackie college, which presumably would relocate as well.

The deal brings an infusion of cash for the Sacramento-based company, which has met declining advertising revenues with staff cuts at its newspapers across the country, including the Herald. McClatchy will use the $163 million from the sale to bolster the company’s pension plan and $65 million to pay down debt. The remaining $2 million will be used to pay for taxes associated with the sale.

No comments:

Post a Comment

Feel free to comment on anything you read here.

All comments must first be approved. Spam and spam links will not be tolerated or approved.