Austin-American Statesman selling land to family that owns paper

Austin American-Statesman building (Courtesy: Google Street View)

AUSTIN (KXAN) – A family entity associated with Cox Enterprises is expected to purchase the property the Austin-American Statesman is located on. The Statesman is owned by Cox Enterprises.

The family members taking ownership of the land did not disclose their plans. Attempts at clarification from Cox Enterprises on details of the purchase were not honored.

“I am personally thrilled to announce this news given the company and family’s commitment to a thriving Austin for future generations to enjoy,” said Statesman publisher Susie Gray. “The Statesman is a steadfast part of Austin and will continue to be a leading provider of news and a good corporate citizen.”

The property is valued at $48.5 million and speculation has run rampant as to its future after the paper downsized and outsourced many positions over the past decade. At one point, the land was rumored to be sold to the University of Texas for a new basketball arena.

Based in Atlanta, Cox Enterprises has owned the American-Statesman since 1976 and will continue to own and operate the newspaper and its websites, for now.

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