by Dominic Ponsford
The Telegraph Group is leaving Docklands
after a stay of 18 years for new offices next to Victoria railway
station in central London.
At the same time as the move the company is to change its name to Telegraph Media Group.
The news follows the Barclay brothers’ purchase of Telegraph Group from Hollinger International for £665 million in June.
Chief
executive Murdoch MacLennan said: “These changes are a clear sign that
our business is moving forward in a positive and dynamic way.
“The new name will reflect the modern, competitive and diverse nature of our
business and the variety of products – from papers to Podcasts – that
we have to offer.
“The move to a state-of-the-art office in the
middle of London will put us right at the centre of the action for
business, commerce and politics. 2006 is going to be an exceptionally
exciting year for the Telegraph.”
The Telegraph Group moved to
Docklands in 1987, and then to 1 Canada Square, commonly known as the
Canary Wharf tower, in 1991. It had previously been on Fleet Streeet.
A
company spokesman said: “Canary Wharf offered facilities and
capabilities that suited the group very well for the last fourteen
years. Given plans for the group, the wholly-owned and specially
designed property at Victoria is now an appropriate base for the next
stage in the Group’s development.
“The new offices are the culmination of a number of important changes during the past year.
“New printing facilities have produced extra pages and more colour for both The Daily Telegraph and Sunday Telegraph.
“A
new management team has been recruited, major steps have also been
taken to rejuvenate both the titles and sales have held up well.
“The
Daily Telegraph has a brilliant new business section and tabloid sport
section every day. The Sunday Telegraph has added two great new
magazines: Stella and Seven. Sales in November were up strongly by
almost 60,000 copies a week.
“The broadsheet Daily Telegraph is
the leader in the quality newspaper market. With sales of more than
900,000 copies a day, it outsells the tabloid Times by more than
200,000, the Guardian by half a million and the tabloid Independent by
660,000.”
The address of the new office is Buckingham Palace Road, London SW1.
No
moving date has yet been set, but the new building has already been
purchased by Barclays brothers subsidiary Press Holdings Limited.
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