Financial details were not disclosed.
Sean Giacola, CEO, New York Post, stated the decision can “help move The Post farther along the path to profitability...”
The new printing plant is The New York Times’ College Point plant in Queens. The company’s Bronx Print Plant will be revamped.
The unions that represent the Bronx employees are in negotiations with News Corp, the publications’ parent company. Until they are concluded, printing will continue in the current facility.
The newspapers are printed in various U.S. locations.
The decision aligns with News Corp’s decision to streamline operations. It sold News America Marketing and Unruly businesses within the past year. Dow Jones is now a separate segment in earnings reports. Dow Jones produces the WSJ and Barron’s, as well as Factiva, MarketWatch, Mansion Global, Financial News, Dow Jones Risk & Compliance and Dow Jones Newswires.
“This is a difficult but important step toward safeguarding our journalism and securing the printing of our publications well into the future,” added Almar Latour, CEO of Dow Jones-publisher of The Wall Street Journal. He said the company is moving to a more digital environment, but “we also serve an important community of loyal readers who love the print experience.”
The Bronx Print Plant opened in 2001 and has more than 400,000 square feet. News Corp will explore options for the future of the plant.