Running a company in the public eye adds additional challenges. It would be nice if you could sit with your team and create all your plans and strategies and then announce them. The problem is in most organizations it’s an ongoing process. Your consumers see and hear one thing and then get conflicting information. They can’t always see the big picture.
This is the case with the Philadelphia Media Network. They bought the Inquirer, Daily News and Philly.com for $139 million dollars at a bankruptcy auction in September. It was announced that they just sold the iconic 18-story building at 400 Broad Street to developer Bart Blatstein.
Blatstein is responsible for the Piazza in Northern Liberties. No one knows yet what he has planned for the building. His track record of improving neighborhoods hopefully means good things for the area.
On the other hand no one knows what is going to happen to the Philadelphia Media Network. It’s not clear if they will try to rent space in the building from Blatstein or if that is even an option. Otherwise they will have to look for space elsewhere.
PMN has said they want to do great things moving forward and create strong digital products. Hopefully this sale will give them the capital to continue their expansion.
What would you like to see developers do to the former home of the Inquirer?
You can follow me by using the subscribe button above!