RIVERSIDE, CA—The owner of the Riverside Press-Enterprise is continuing a trend of California newspapers selling off their brick and mortar offices. Dallas-based A.H. Belo Corp., which owns the Press-Enterprise, said Monday that it will sell the five-story building to Riverside County for approximately $30 million.
The paper's publisher and CEO announced the deal in an email to employees on Monday. If the tentative agreement holds, the company plans to relocated a shrunken work force to smaller leased offices somewhere within the city limits.
The county is interested in using the six-year old building to house its IT department. The Press-Enterprise would continue to operate its press from an adjacent building.
The San Jose Mercury News has also put its office building on the market.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
