Miami Herald sells HQ in downtown

Malaysian Group owns 50% of the Norwegian cruise ships operating from the Port of Miami and plans to build a tourist resort in 14 acres. Sale includes office Miami Herald Media Co. and parking lot, the company announced. Under the agreement, Miami Herald and El Nuevo Herald of the building for up to two years of free rent while looking for a new home. The deal could give McClatchy cash exceeds the fair market value. Sales in Sacramento, Calif., the company has fallen for three years in circulation and advertising sales are suffering from competition from online publications. Its shares have lost 94% over the past five years, resulting in a company with a market capitalization of $ 234.7 million to close last week. The company inherited the sale of approximately 10 acres in Miami when he purchased Knight Ridder for 4.1 billion dollars in 2006. He expressed the closing of another buyer three times and has collected at least $ 16 million during the negotiations. The publisher said it will contribute 163 million U.S. dollars from the sales price toward its pension plan, 65 million offered to holders of certain debt of $ 6 million will be held in escrow, and 2 million will be used to pay taxes. paid circulation for newspapers McClatchy, including the Kansas City Star and Fort Worth Star-Telegraph, fell 3.7% in the first quarter, ad sales, which accounted for nearly three quarters of revenues decreased by 11%. Genting owns Malaysia's hotels and casinos around the world and 50% of the Norwegian Cruise Lines, which operates from the Port of Miami