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A Lee Enterprises, Incorporated newspaper. Majority shareholder: David Hoffmann, Hoffmann Media Group.

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Sale of News & Record property part of a newspaper industry trend

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A Lee Enterprises, Incorporated newspaper. Majority shareholder: David Hoffmann, Hoffmann Media Group.

Sale of News & Record property part of a newspaper industry trend

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News & Record property2

The News & Record, which traces its roots to 1890, has operated at its 200 E. Market St. location since 1976. The 6.5-acre parcel takes up the block between Market and Hughes streets, and Davie and Church streets.

News & Record property

Faced with dwindling circulation, smaller staffs and more emphasis on digital services, newspapers from Charlotte to Chicago are selling off their high-profile properties. The News & Record joined the trend last month.

Developer Roy Carroll is among the many who think the News & Record property is too prominent a location not to be successful. “That size property in a downtown area has potential to create its own synergy,” he said.

Developer Marty Kotis says the city must guide developers and resist the temptation to make a quick profit.

“It’s not often that a piece of that size becomes available,” Mayor Nancy Vaughan says about the News & Record property.

“These opportunities seldom come around,” said Zack Matheny, the president and chief executive officer of Downtown Greensboro Inc., the city’s downtown economic development agency.

The site for the newspaper’s building was once home to the King Cotton Hotel, which held court as one of the region’s largest hotels.

When it opened in 1927, the King Cotton Hotel, with 225 rooms, was one of the area’s most luxurious. It was razed in 1971.

The Greensboro News & Record has operated at its current downtown location since 1976.

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Richard Barron

GREENSBORO — Faced with dwindling print circulation and moving toward 24-hour digital publication, newspapers have become multimedia companies with smaller staffs and operations centers.

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Contact Richard M. Barron at 336-373-7371 and follow @BarronBizNR on Twitter.

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News & Record property2

The News & Record, which traces its roots to 1890, has operated at its 200 E. Market St. location since 1976. The 6.5-acre parcel takes up the block between Market and Hughes streets, and Davie and Church streets.

Faced with dwindling circulation, smaller staffs and more emphasis on digital services, newspapers from Charlotte to Chicago are selling off their high-profile properties. The News & Record joined the trend last month.

Developer Roy Carroll is among the many who think the News & Record property is too prominent a location not to be successful. “That size property in a downtown area has potential to create its own synergy,” he said.

Developer Marty Kotis says the city must guide developers and resist the temptation to make a quick profit.

“It’s not often that a piece of that size becomes available,” Mayor Nancy Vaughan says about the News & Record property.

“These opportunities seldom come around,” said Zack Matheny, the president and chief executive officer of Downtown Greensboro Inc., the city’s downtown economic development agency.

The site for the newspaper’s building was once home to the King Cotton Hotel, which held court as one of the region’s largest hotels.

When it opened in 1927, the King Cotton Hotel, with 225 rooms, was one of the area’s most luxurious. It was razed in 1971.

The Greensboro News & Record has operated at its current downtown location since 1976.

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