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Torstar Corp. reveals sale of Hamilton Spectator building, land for $25.5M

The Hamilton Spectator's building has been sold, according to Torstar Corp.
The Hamilton Spectator's building has been sold, according to Torstar Corp. Global News

The building that houses the Hamilton Spectator has been sold, according to the newspaper’s parent company.

Early on Monday, Torstar Corporation revealed the sale of the land and building at 44 Frid St. to an undisclosed buyer for the purchase price of $25.5 million.

In a statement, the company said the agreement was still subject to “customary closing conditions and adjustments.”

READ MORE: Torstar Corp. to close Hamilton Spectator printing offices, cutting 180 jobs

Torstar expects the sale to be completed within the first quarter of 2020.

In May 2019, Torstar announced that 180 workers would be losing their jobs after revealing the closure of its Hamilton printing and mailroom operations in late August 2019.

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At that time, the company said it expected to save between $4 million and $6 million annually by transferring printing work to Montreal-based TC Transcontinental Printing and other Torstar-owned facilities as well as external printers.

Torstar, which also owns the Toronto Star, operates six regional daily newspapers in Ontario and is expected to move its remaining staff to a yet-to-be-disclosed location in the Hamilton area.