Friday, July 29, 2011

Phila. Media announces sale of building 400 N. Broad

"Philadelphia Media Network Inc. has agreed to sell the 18-story building at 400 N. Broad St. that houses The Inquirer, Philadelphia Daily News and to developer Bart Blatstein of Tower Investments Inc.

The price was not disclosed.

"As Philadelphia Media Network continues its successful digital transformation, the efficient utilization of our assets will be our highest priority in the development and distribution of all PMN products," said Gregory J. Osberg, chief executive officer and publisher.

PMN said it was exploring options for future space - remaining in its present location or looking for new space in the region."

Original story here:

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