Thursday, January 01, 2009

Herald's land sale postponed

According to Editor & Publisher:

The McClatchy Co. said on Tuesday that it is extending the closing date of the sale of its Miami property.

The deal, which is expected to bring in $190 million, was originally expected to close at the end of this year. Because the buyers of the 10 acres of land adjacent to The Miami Herald are having trouble securing financing, McClatchy has postponed the date until June 30, 2009.

Citisquare Group paid McClatchy $10 million in a nonrefundable deposit.


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