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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