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
Youth Lacrosse Team Wins Fall Tournament in N.Y.
Pittsfield At-Large Candidates Debate The Issues As Election Approaches
North County Turns Out in Droves for Annual PopCares Fundraiser
Williamstown Selectmen Delay Recommendation on School Regionalization
Northern Berkshire Santa Fund Teams With North County's BCAC, United Way
Berkshires Beat: SVMC Hosts Breast Cancer Awareness Month Events
Biz Briefs: Berkshire Farm & Table, Alchemy Initiative Team Up to Aid Farmers Markets
Williamstown Fire District Asks Voters to Approve Land Deal
Adams Police to Implement Project Safe Return
Whiteley, Genaway Making Impact as Freshmen on College Team

 


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:
Breakfast Gas Prices Pittsfield Berkshire Creative Excelsior Qualprint Small Business Berkshire Living Baldwin Adams Auction Sabic Unemployment Statistics Unemployment Merger Walmart Sales Tax Berkshire Enterprises Jobs Wmeco Great Barrington Berkshire Chamber Of Commerce Crane & Co. Talkberkshires North Adams Williamstown Social Media State Flood Bj's Currency Store Opening Statistics Expansion
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
Storey Publishing to Host Next Creative Challenge
White Hart Inn For Sale for $5M
New Dog Training Center Open in North Adams
Carbone Dealership Empties Lot
Covanta's Pittsfield Facility Gets High Marks from OSHA
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