Monday, December 8, 2008

McClatchy looking to sell Miami Herald?

That's the word on the net today, at least. Inside, unnamed sources at McClatchy are saying this is a possibility.

Might not be a bad move. Miami has been a bleeding wound for McClatchy for a while, thanks to the dire hits to the real estate market down there.

McClatchy stock price is up by several points on this news.

My question is, are they looking to sell it as one piece or will the cannibalize the building and sell the equipment and paper to someone else who will move it somewhere other than its current prime real estate location. We could be seeing more condos where the Herald building currently stands.

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