(Oct. 30, 2003) -- The LB Press-Telegram -- based since 1924 on the NE corner of 6th and Pine from which it boosted City Hall backed downtown and (now former) beachfront development -- may move to another LB location...although it plans to continue publishing from wherever in LB it's located, it told its readers today.
An article in the PT's Business section by reporter Felix Sanchez cites publisher Ian Lamont as saying the move's chances are "50-50." It quotes a memo to employees by Mr. Lamont as saying the possible sale has nothing to do with the PT's performance...and the paper's operations would continue whether it remains in its current building or moves to some other LB building.
The memo described the building's possible buyers as interested in doing something similar to what was done to the Walker Building (formerly an office building, now condos).
PT reporter Sanchez said the building "apparently has drawn attention from private developers because of its proximity to a number of recently opened or ongoing projects: the CityPlace outdoor shopping center, which opened late last year, and the increasing number of retail outlets. Accompanying CityPlace residential units are open or nearing completion, including combination residential/retail structures directly across the street from the Press-Telegram." Mr. Lamont indicated that the interested buyers want to remain anonymous for now, the PT reported.
CityPlace, a development criticized during its planning stages by a number of downtown residents and some city activists, was editorially supported by the Press-Telegram at the time.
Although the PT operates from downtown LB, it is now owned by Denver-based newspaper magnate Dean Singleton, who in recent years assembled a chain of L.A. area newspapers including the (SFV-based) Daily News, the Pasadena Star News...and others including the Press-Telegram, which are jointly marketed as the Los Angeles News Group.
The PT, previously printed on giant presses in its downtown HQ, is now printed in Valencia in the same plant as the Daily News.
Any move of the rest of its operations from 6th/Pine to elsewhere in LB would likely be at least 4-6 months away, the paper indicated.
