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London - News International, the British newspaper wing of Rupert
Murdoch’s News Corp, has put its Wapping home up for sale, abandoning a plan
to remodel the 15-acre site in east London that was home to the News of the
World newspaper.
“The
majority of News International’s Wapping-based editorial and commercial staff
have now relocated into Thomas More Square with the remainder to be relocated
by the end of 2011,” the company said on Monday.
“As
a result, and in light of current market conditions, News International has
decided not to proceed with remodelling the Wapping site.”
The
company has tried before to sell the site, which will have risen steeply in
value since Murdoch bought it in the 1980s. It abandoned its last attempt in
2008, saying it would move staff from other offices to a remodelled Wapping
site. The rumoured price tag was about £200m.
In
1986, thousands of demonstrators clashed with police at the site as part of
protests against Murdoch’s move to shift his news operations out of Fleet
Street.
The
move, which saw Murdoch introduce electronic production techniques requiring
fewer staff, triggered the dismissal of thousands of workers.
The
site is home to The Times and Sunday Times newspapers.