Postmedia sells Calgary Herald building for $17.25M

Postmedia has sold the Calgary Herald building to U-Haul Co., the same company that purchased the Calgary Sun's building in 2020. (File) THE CANADIAN PRESS/Sean Kilpatrick

Newspaper publisher Postmedia says it has sold the Calgary Herald building for $17.25 million to U-Haul Co.

The landmark brick building is in a prominent location just across the river from downtown, and is visible from the busy commuter routes of Memorial Drive and Deerfoot Trail.

Postmedia's announcement comes the same day as the company said it is moving a dozen of its Alberta community newspapers to digital-only formats and laying off workers.

Those moves were announced in an internal memo to staff Wednesday obtained by The Canadian Press that describes the measures as part of a transformation plan geared toward managing costs.

The memo says the plan will result in an unspecified number of roles being eliminated across Postmedia over the coming month as it works through vacancies and layoffs.

It adds that the Postmedia publications moving to digital formats will make the transition on Feb. 27, but did not name which newspapers will make the switch.

Postmedia also used the memo to announce that it has entered into a limited partnership agreement with Glacier Media and will be moving all of its Saskatchewan printing to Estevan Printing.

The company says it will be putting its Saskatoon building up for sale and looking to sublease a Regina property, leaving Saskatchewan-based employees to permanently adopt remote work.

This report by The Canadian Press was first published Jan. 18, 2023.