I still don’t understand why more major-market newspapers aren’t doing this.
The big-city daily typically owns a huge chunk of prime downtown real estate, which was bought, built and developed decades before the cities grew up around them. Can’t understand why more aren’t trying to make more bucks off their real estate when all the other ways they can make money are so difficult these days.
Tribune's new one-guy guy Sam Zell, of course, obviously knows a thing or two about the business of buildings and land. Although there are only two Tribune properties he owns located within his favorite real estate markets, or at least his favorite markets as of last summer: his two television stations in Seattle.