Any move would be in keeping with Gannett's consolidation and sale of real estate as it looks for new ways to reduce overhead. In Phoenix, the station would occupy the ground floor of the Republic's mid-rise building (left), less than two miles away."We think there are great synergies for both of our platforms,'' Publisher John Zidich told the paper. "We also think that it could be a really exciting new draw to downtown as we position the studios so that the outside world can see inside."
The plan also hints at Gannett's continued confidence that it will eventually get Federal Communications Commission approval to make permanent its ownership of both the station and the newspaper. Under current FCC rules, companies are limited in such cross-ownership, a decades-old regulation meant to limit concentration of media power. Like other companies in similar situations, Gannett has kept KPNX under an FCC waiver.
But efforts by media companies to end the rule have been thwarted, including under more business-friendly Republican Administrations. And as recently as December, Gannett CEO Craig Dubow expressed doubts at a Wall Street media stock conference that the FCC rule would be relaxed under the Obama Administration.
"I think with the current administration in a basically Democratic situation at the FCC, I don't see a whole lot of movement in that at this point,'' Dubow said.
Do you know about a pending real estate deal? Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.
I love to see the quotes using the word "platforms".....buzz buzz buzz....
ReplyDeleteWhat's on the first floor of the Republic bldg now?
ReplyDeleteThe move is on. Poor 12 broadcasters are complaining on air that because the company is merely moving the set instead of building a new one, they are doing reports from whatever desks the directors put in front of the camera in the old building.
ReplyDeleteHey how much will Gannett receive when they develop that Extremely Desirable location?
It was the lobby, and credit union, Human resources. The credit union has closed. So many laid off workers, loans went bad, human resources moved upstairs, and now you go in a side door. Not sure if all people will be using side door (employee entrance). There were soo many layoffs, there is plenty of space on plenty of floors.
ReplyDelete