Home About Archives RSS Feed

Digitial First Puts Vermont News Buildings on the Market

Staff Reports

PITTSFIELD, Mass. — Digital First Media, owner of New England Newspapers, is shedding itself of more real estate.

On the market along with The Berkshire Eagle Clocktower building are the locations of its three Vermont papers: Bennington Banner, the Brattleboro Reformer ($850,000) and the weekly Manchester Journal ($275,00).

The company announced on Tuesday it was putting 51 properties more properties on the market, for a total of 70 with a value of about $85 million, according to reports in the Denver Post, DFM's flagship paper.

In a press release from Twenty Lakes Holdings, the company's real estate management firm, posted on Poynter, Steve Rossi, president and chief operating officer of Digital First Media, said the strategy was to free "the company from the constraints of being overburdened with underutilized properties."

Real estate broker Praxis Commercial has the listings and prices on its website but not for the Banner, which shows up on a list from Twenty Lakes acquired by Poynter.

Digital First has been asking $2.5 million for the Clocktower Building on South Church Street. Its also selling the Sentinel & Enterprise building in Fitchburg and a printing plant in Devens and the Troy (N.Y.) Record building.

The company shuttered the 15-year-old North Adams Transcript and the Advocate Weekly earlier this year and laid off a number of people.

It's been widely rumored that DFM is being forced to cut a $100 million from its operating budget and that it may be preparing newspapers, not just buildings, for sale. The company closed its much-ballyhooed Thunderdome in April. DFM, which took over management from bankrupt MediaNews Group, has some 10,000 employees and nearly 300 newspapers.

0 Comments
     
News Headlines
McCann Junior To Compete Nationally in Office Competition
Adams Community Bank Announces Retirements and Promotions
Cultural Pittsfield This Week: Jan. 19-25
Attorney Named Partner of Local Law Firm
SVMC Hosts Life Hacks Meme Competition for Teens
Red Lion Inn Names New Executive Chef
MCLA Men's, Women's Basketball Earn Road Wins
Adams Loses Out on Gas Station Property Next to School
$74 Million Wastewater Plant Upgrades Heads to City Council
Mount Greylock School Committee Decides to Post Superintendent Position

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (5)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
Tags:
North Adams Breakfast Berkshire Chamber Of Commerce Williamstown Statistics Walmart Flood Merger Bj's Jobs Talkberkshires Adams Great Barrington Berkshire Living Excelsior Sabic State Berkshire Creative Currency Store Opening Berkshire Enterprises Sales Tax Statistics Small Business Pittsfield Unemployment Qualprint Baldwin Gas Prices Auction Social Media Crane & Co. Wmeco Expansion Unemployment
Popular Entries:
Excelsior Brings Greeting Card Co. To North Adams
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Williamstown Chamber Seeks Input on Future Role
Aladco Installs New 'Green' Washing Machine
White Hart Inn For Sale for $5M
Storey Publishing to Host Next Creative Challenge
New Dog Training Center Open in North Adams
Carbone Dealership Empties Lot
Real Estate Panel to Tour S. County, Pittsfield Sites
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move