S.F. Bay Guardian Announcement: Brugmann Stepping Down, Headquarters Sold For $6.5 Million
Guardian HQ, via Street View
In an official announcement today, San Francisco Bay Guardian Executive Editor Tim Redmond cleared up some of the the rumors swirling around the will-they/won’t-they hookup situation between the Guardian and the San Francisco Examiner. The biggest take aways: longtime publishers Bruce Brugmann and Jean Dibble will be stepping down from their day-to-day operations as they cash in on the sale of the paper’s Potrero Hill headquarters.
Helping out Boss Brugmann and his wife as they sunset their way to retirement, San Francisco real estate investment firm Union Property Capital has agreed to pay $6.5 million for the paper’s HQ on Mississippi Street. That price tag is just under $2 million more than Brugmann paid for the 27,000 square-foot building back in 2002 using Small Business loans to make the down payment. The deal was reportedly made off the market.
Although Examiner Publisher Todd Vogt was originally being coy about the sale, he explained to Redmond, “Bruce and Jean have created a legendary publication, and we are happy to be able to give it a new home and the chance to continue its mission.” The Ex and the SFBG will remain separate and distinct papers, but Vogt did point out that, “the potential synergies will be beneficial to readers and advertisers.”
Redmond also explained the paper’s plan for the future and his own expanded role:
This transition is connected to ongoing exclusive negotiations with a subsidiary of The SF Newspaper Company LLC to purchase all assets related to the the Guardian publishing operations. SFNalso owns and publishes the San Francisco Examiner. Both parties are optimistic that a final contract will be signed shortly, most likely in May.
There are no plans to change the editorial content or positions of the Guardian, which will remain the voice of progressive politics and alternative culture in San Francisco. Executive Editor Tim Redmond will stay on in the expanded role of executive editor and publisher.
Brugmann, meanwhile, will continue keeping up the Bruce Blog for the foreseeable future.
Previously: SF Examiner Just Bought SF Bay Guardian?