Yesterday, OPUBCO announced that it has entered into a contract to sell its ominous 12-story corporate headquarters, manufacturing plant and a bunch of other goodies to American Fidelity Assurance. When the sale goes through, OPUBCO will then lease five floors of the office tower and the production plant, and American Fidelity will gradually relocate to the other floors, including the 12th floor patio and garden.
This news isn’t very surprising. Former OPUBCO President David Thompson is an executive at American Fidelity, and the newspaper industry continues to struggle. At one time it probably made sense for a newspaper-backed media conglomerate to own a big, dark and scary office building that frightened orcs and wildlings, but thanks to declining revenues, circulation and dying reader-base, that time is gone. In 20 years, I wouldn’t be surprised if OPUBCO moves into an old Braum’s or just starts renting a desk at OKC CoCo.