Friday, February 20, 2015

CBC considering sale of downtown Toronto headquarters

The National Post reports that in the face of new technology and budget cuts, the CBC is mulling the sale of its downtown Toronto headquarters, a move network officials say may shake staff morale and its public image.
“I understand the attachment that people make to those kinds of symbols,” said Fred Mattocks, general manager of media operations and technology for CBC English services.
“But our connection with Canada has never been about a building. It’s always been about programming and content.”
The public broadcaster has hired a consultant to help decide whether it should sell the one-million square-foot building. Mr. Mattocks says it only needs about a third of that space and is looking for a buyer who might be interested in keeping it on as a tenant.
It’s a cost-cutting measure being followed by other media organizations — including Postmedia Network Inc., which owns the National Post.
“I don’t think any media company is very good at [real estate] and we’re not, for sure,” Mr. Mattocks said.
Over more prosperous decades, the CBC has acquired a huge real estate portfolio, valued at about $1-billion.

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