News Corp announced on Wednesday that it was closing its printing plant in the Bronx and moving the publication of several of its New York-based newspapers to Queens.
News Corp has not released financial details of the move, but said there will be job cuts. The Bronx plant employs more than 500 people, including truck drivers, press and electricians, as well as executives.
The company has announced plans to shift printing from the Wall Street Journal, Barrons and New York Post to the New York Times Co.’s College Point plant. The three News Corp publications are also printed in a number of other parts of the country.
News Corp did not provide a timeline for the change, but said it would continue to print at the Bronx plant while it negotiates with unions representing employees at the plant.
The company said the change was part of its attempts to simplify its structure. He moved to get rid of non-essential assets for over a year. News Corp sold its coupon publishing business, News America Marketing, and its advertising services company, Unruly, earlier this year. It has also considered strategic alternatives for its Storyful video authentication unit, including a possible sale, according to a person familiar with the matter.
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