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Bloomberg: Condos Replace Newsrooms as U.S. Papers Sell Real Estate

By Nadja Brandt. Newspaper owners, struggling with plunging demand and advertising spending at a six-decade low, are squeezing money out of the assets they do have with rising value: buildings and land.

January 11, 2013

Redevelopment of the buildings is a more profitable option for property owners, said Richard Green, director of the University of Southern California's Lusk Center for Real Estate in Los Angeles.

"Today, almost certainly it's not the highest and best use of a property to house a newspaper," Green said in an interview. "In high-barriers-to-entry markets, like Boston and nowadays Miami, building a new residential or mixed-use development instead will be a very good play."

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Link: Bloomberg