Postmedia finds new home in downtown Toronto
Postmedia and the National Post have selected a new head office in downtown Toronto. Postmedia Network Inc. announced that it has entered a 15-year lease agreement with 365 Bloor St. E. in downtown Toronto that commences on Dec. 1, 2013. The company will take up much of the 19-story building, which is now called Greenwin Square, but will be renamed by Postmedia. It will house Postmedia’s corporate head office, integrated advertising and digital groups and the National Post.
“Our new head office will provide us with a modern and innovative space that will give us a strategic and convenient location for our business and a great working environment for employees,” said Postmedia’s Chief Executive Officer, Paul Godfrey, in a release. “We look forward to the energy of a downtown location, located near many of our largest clients in a space that is custom-tailored to suit our needs.”
In June Postmedia sold its Toronto building that housed the National Post and its corporate head office for $24 million, saying that the net proceeds of the sale would go toward debt repayment, another move by the publisher to cut costs.