Washington Post (NYSE:GHC) is contemplating the sale of its headquarters building in the nation's capital. The company has been ensconced in the complex since 1950, and it has witnessed many historic moments. Most notably, it was where reporters Bob Woodward and Carl Bernstein wrote a series of articles on the Watergate scandal in the early 1970s.
Publisher Katharine Weymouth, in an email to employees published on the newspaper's business blog, alluded to the company's need to modernize and streamline its operations. "Once we removed the presses from this building over 10 years ago, we were no longer tied to this particular location," she wrote.
"Our preliminary analysis suggests that a move will make good operational and economic sense; however, we have not yet decided on where or when," Weymouth added.
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