Philadelphia Weekly
From Philadelphia Inquirer and Daily News publisher
Joe Natoli's Q-and-A memo to staff:
Q: I heard something about our downtown building being for sale. Is that true?
A: No, but that's under review. Our building is under-utilized. Options include leasing open space to others, selling the building in a sale/lease-back (which would generate cash to pay down debt, without requiring a move), or selling the building and leasing space in another facility. The issue is how best to realize the value of our real estate. ...A decision on the building is probably months away. Having said that, we would always expect to maintain a significant presence in Philadelphia.
