Philadelphia's newspapers move out of old HQ

(AP Photo)

July 9, 2012 5:35:47 AM PDT
Philadelphia's two major daily newspapers are moving out of the iconic Broad Street tower they had long called home.

The white tower had been home to The Philadelphia Inquirer for 87 years before staff began their move Monday to a new office on Market Street.

The building that had been home to the Inquirer and the Philadelphia Daily News was sold last year for $22.6 million to a developer who plans to convert the parcel into a mixed-use development.

A group of local investors purchased the papers in April from the hedge funds that took control of the company following its 2010 bankruptcy.

The papers and their online presence,, are moving to the third floor of the former Strawbridge and Clothier building at Eighth and Market streets.

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