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
MassDOT's Adams Rail Line Project Falling Short of Station
Adams Selectmen Reorganize, Seek Volunteers for Anthony Days
Berkshire Tidbits: Mother's Day
Letter: Support Puddester for Planning Board
Letter: Gardner Saddened by Failure to Reach Waubeeka Compromise
Pittsfield Residents Brainstorm Ways to Fight Crime Wave
Preschool Program Dominates Williamstown School Committee Forum
Canning Announces State Senate Candidacy on Republican Ticket
Clarksburg Planners Recommend Wind, Telecommunication Bylaws
Williamstown Planners Flip on Waubeeka Land 'Bonus' Issue

 


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:
July 2015 (1)
Tags:
Pittsfield Excelsior Berkshire Living Sabic Auction Berkshire Enterprises State Wmeco Store Opening Walmart Great Barrington Small Business Unemployment Crane & Co. Berkshire Chamber Of Commerce Expansion Currency Statistics Sales Tax Berkshire Creative Breakfast Baldwin Statistics Talkberkshires Adams Qualprint Unemployment Gas Prices Merger Jobs Social Media North Adams Williamstown Bj's Flood
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
White Hart Inn For Sale for $5M
Williamstown Chamber Seeks Input on Future Role
New Dog Training Center Open in North Adams
Aladco Installs New 'Green' Washing Machine
Storey Publishing to Host Next Creative Challenge
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
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