Murdoch's News International sells Wapping site

AP News
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Posted: May 31, 2012 11:55 AM
Murdoch's News International sells Wapping site

Rupert Murdoch's News International has sold its Wapping location in East London for 150 million pounds ($230 million), leaving behind a site that was a 1980s labor flashpoint and a symbol of the media baron's determination to shake up Britain's newspaper industry.

News International chief Tom Mockridge said Wednesday that the sale to property developer St. George marked an "end of an era" for the company, which moved its newspaper production plant there in the face of intense hostility from trade unionists in 1986.

The ensuing fight exhausted Britain's unions, and within two years Murdoch's major competitors had followed his example and moved away from British journalism's historic home on Fleet Street.

News International has already moved its newsrooms across the street to a nearby development.