- Associated Press - Wednesday, February 3, 2016

SOUTH PORTLAND, Maine (AP) - The owner of the Portland Press Herald has sold and then leased back the building that houses a printing plant to raise money for a new press.

MaineToday Media plans to use proceeds from the sale of the South Portland property to purchase a press for the facility that’ll be less expensive to operate.

Terms of the sale were not disclosed.

Publisher Lisa DeSisto says the initial lease with the new owner, a property management company, is for 10 years, renewable for up to 40 years.

MaineToday plans to move most of the remaining staff including reporters and editors from Portland’s One City Center to the South Portland building in the future.

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