Iconic Gleaner Building Sold to Fabric-Based Company

KINGSTON, Jamaica – The RJRGLEANER Communications Group says it has entered a “binding agreement” with the Jamaica-based fabric company, LP Azar Limited regarding the sale of the Gleaner building in the capital, Kingston.

“The transaction forms part of the Group’s broader strategic restructuring and modernisation initiatives aimed at optimising its operational footprint, improving efficiency across its commercial operations, and enhancing long-term shareholder value,” the RJRGLEANER Communications Group said in a statement.

The Gleaner building is regarded as a historic structure that has served as the home of Jamaica’s oldest newspaper, which was established in 1834. The iconic building on North Street, often associated with the publication, dates back several decades.

In its statement, the RJRGLEANER Communications Group said the sale will support the continued consolidation of operations at the Group’s Lyndhurst Road campus and allow for a more focused allocation of resources toward the Group’s core print media, digital and broadcast businesses.

“Completion of the transaction is subject to customary closing conditions and is expected to occur within 45 days. Staff members previously located at the North Street campus will be accommodated at the Group’s 32 Lyndhurst Road facilities,” it said, adding that the company will make any further disclosures required under the rules of the Jamaica Stock Exchange and applicable law.