Thursday, March 20, 2008

Two ailing newspapers move in together to share rent... McClatchy and Hearst to share office space in DC

Two newspaper companies in financial difficulty are moving in together to reduce the rent costs. From MediaBistro:

The Hearst Bureau is moving in with McClatchy next month, we've learned. Hearst had leased a big, fancy spot on K Street a few years back but they've lost a handful of people from the San Francisco Chronicle, Seattle Post-Intelligencer and Houston Chronicle through layoffs and attrition. As a result, they're breaking their lease and moving in with McClatchy (above Macy's at One Metro Center).

There will be no editorial change, however. "All of the bureaus -- Hearst's national staff, SF, San Antonio, Houston and McClatchy --remain independent," says Houston Chronicle DC Bureau Chief Richard Dunham.


Reading between the lines, looks to me like McClatchy's downsizing has left them with some empty office space.