New York Times in crisis sells home

The economic crisis currently under way also in the media, the New York Times has decided to sell part of its new headquarters designed by Renzo Piano and completed in 2007.
The newspaper has announced that they are being "advanced negotiations" to sell 19 of the 52 floors of its new headquarters building to the group and WP Carey Co.
The journal will continue to occupy and manage the plans on the building which houses its offices and would have the right to buy back the space at a predetermined price when the lease expires in 10 years.
On 8 December, was announced the intention to switch a mortgage on the headquarters for 225 million dollars in order to cope with a debt of 400 million dollars in maturing in May 2009.
While the beginning of the year for the first time in its history, the NY Times has included advertisements in the home, seeking to increase the advertising has fallen in recent months.

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