New Globe and Mail Headquarters (Wellington St W, ?,?)
Globe and Mail to build new headquarters
Steve Ladurantaye
Globe and Mail Update
The Globe and Mail will build a new headquarters in Toronto’s King West neighbourhood, an area of the city that has been a hive of condo and hotel development.
Woodbridge Co. Ltd., a private holding company that manages the assets of Canada’s Thomson family, including a majority stake in global information company Thomson Reuters Corp. and a will soon own a majority stake in The Globe and Mail said Thursday it will invest in new office space for the newspaper.
The space – which hasn’t been designed yet – will be on Wellington Street West. The Globe currently backs onto Wellington, and the Thomson family owns about 80 per cent of the real estate on the block between Spadina and Portland streets.
“You can't walk through the front door of this building anymore and say this is what a modern media company looks like,†said Geoff Beattie, chief executive officer of Woodbridge of the 47-year-old building that was formerly the home of the Toronto Telegram.
The announcement is one of the first hints of how Woodbridge plans to manage The Globe and Mail, which it acquired in a September deal as part of a deal that saw the Globe’s current parent, CTVGlobeMedia, purchased by BCE Inc. for $1.3-billion. The deal is expected to close by the end of the year.