Tuesday, November 9, 2010
Random House: "We're in the real-estate business, not the book business"
The Wall Street Journal reports that Random House Inc., the world's largest consumer book publisher and a unit of German media conglomerate Bertelsmann AG, is trying to sublease as many as 9 of the 24 floors it now occupies at 1745 Broadway in New York City. Apparently, Random House used to own the building, but now has a
99-year long-term lease. Memo to CEO Marcus Dohle: Sublease 24 of 24 floors and relocate to Bridgeport, CT.