Washington Post 2007 Annual Report Download - page 47

Dublin, Ireland, are located in nine buildings aggregating approximately 79,000 square feet of space that have been
rented under leases expiring between 2008 and 2029. Kaplan Financial’s three largest leaseholds are office and
instructional space in London of 33,000 square feet (which lease will expire in 2033), 21,000 square feet (which
lease will expire in 2015) and office and instructional space in Birmingham of 23,000 square feet (which lease will
expire in 2017). Kidum has 52 locations throughout Israel, all of which are occupied under leases that will expire
between 2008 and 2012. All other Kaplan facilities in the United States and overseas (including administrative offices
and instructional locations) also occupy leased premises.
WP Company owns the principal offices of The Washington Post in downtown Washington, D.C., including both a
seven-story building in use since 1950 and a connected nine-story office building on contiguous property completed in
1972 in which the Company’s principal executive offices are located. WP Company also owns and occupies a small
office building on L Street which is connected to The Post’s office building. Additionally, WP Company owns land on
the corner of 15th and L Streets, N.W., in Washington, D.C., adjacent to The Post’s office building. This land is leased
on a long-term basis to the owner of a multi-story office building that was constructed on the site in 1982. WP Company
rents one floor in this building, which it has subleased to a third party.
WP Company owns a printing plant in Fairfax County, VA, which was built in 1980 and expanded in 1998. That
facility is located on 19 acres of land owned by WP Company. WP Company also owns a printing plant and
distribution facility in College Park, MD, which was built in 1998 on a 17-acre tract of land owned by WP Company.
As noted previously, WP Company has announced plans to close this facility in 2010.
The Daily Herald Company owns its plant and office building in Everett, WA; it also owns two warehouses adjacent to
its plant and a small office building in Lynnwood, WA.
Early in 2007, Post–Newsweek Media, Inc. completed the construction of a two-story combination office building and
printing plant on a seven-acre plot in Laurel, MD. In July 2006, The Gazette sold the two-story brick building in
Gaithersburg, MD, that served as its headquarters, although certain editorial and administrative personnel occupied
the building until early 2008. At this time, the staff moved into the renovated two-story brick building, also in
Gaithersburg, that had formerly held the Montgomery County printing operations for Post–Newsweek Media. The
Company also owns a printing facility in Waldorf, MD, which serves as the headquarters for the Southern Maryland
Newspapers. In May 2007, the Company finished renovations to a one-story brick building in St. Mary’s County and
moved that county’s editorial and sales staff to this property. In addition to this owned property, Post–Newsweek Media
leases editorial and sales office space in Alexandria, VA, and in Frederick, Carroll, Calvert and Prince George’s
Counties, MD.
The headquarters offices of the Company’s broadcasting operations are located in Detroit, MI, in the same facilities
that house the offices and studios of WDIV. That facility and those that house the operations of each of the Company’s
other television stations are all owned by subsidiaries of the Company, as are the related tower sites (except in
Houston, Orlando and Jacksonville, where the tower sites are 50% owned). In January 2007, the Company’s
Post–Newsweek Stations subsidiary purchased a 5.8-acre site north of Miami on which it intends to construct a new
building to house the operations of WPLG and sold WPLG’s existing facility in Miami. WPLG will continue to occupy
this facility pursuant to a lease with the new owner until the new building in completed.
The principal offices of Newsweek are located at 251 West 57th Street in New York City, where Newsweek rents
space on nine floors. The lease on this space will expire in 2009, but is renewable for a 15-year period at Newsweek’s
option at rentals to be negotiated or arbitrated. Newsweek did not exercise its renewal option and is presently
negotiating for a new long-term lease for less space elsewhere in New York City, for occupancy prior to the expiration
of the current lease. Budget Travel’s offices are also located in New York City, where they occupy premises under a
lease that was renewed through 2015. Newsweek also leases a portion of a building in Mountain Lakes, NJ, to house
its accounting, production and distribution departments. The lease on this space will expire on July 31, 2012, but is
renewable for two 5-year periods at Newsweek’s option.
The headquarters offices of the Cable Television Division are located in a three-story office building in Phoenix, AZ that
was purchased by Cable ONE in 1998. Cable ONE purchased an adjoining two-story office building in 2005; that
building is currently leased to third-party tenants. The majority of the offices and head-end facilities of the Division’s
individual cable systems are located in buildings owned by Cable ONE. Most of the tower sites used by the Division
are leased. In addition, the Division houses call-center operations in 60,000 square feet of rented space in Phoenix
under a lease that will expire in 2013.
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