Postmedia sells Calgary Herald building for $17.25M

Newspaper writer Postmedia says it has offered the Calgary Herald constructing for $17.25 million to U-Haul Co.

The landmark brick constructing is in a outstanding location simply throughout the river from downtown, and is seen from the busy commuter routes of Memorial Drive and Deerfoot Trail.

Postmedia’s announcement comes the identical day as the corporate mentioned it’s transferring a dozen of its Alberta group newspapers to digital-only codecs and shedding employees.

Those strikes have been introduced in an inner memo to employees Wednesday obtained by The Canadian Press that describes the measures as a part of a metamorphosis plan geared towards managing prices.

The memo says the plan will end in an unspecified variety of roles being eradicated throughout Postmedia over the approaching month as it really works by means of vacancies and layoffs.

It provides that the Postmedia publications transferring to digital codecs will make the transition on Feb. 27, however didn’t identify which newspapers will make the swap.

Postmedia additionally used the memo to announce that it has entered right into a restricted partnership settlement with Glacier Media and shall be transferring all of its Saskatchewan printing to Estevan Printing.

The firm says will probably be placing its Saskatoon build up on the market and trying to sublease a Regina property, leaving Saskatchewan-based workers to completely undertake distant work.

This report by The Canadian Press was first revealed Jan. 18, 2023.