MONTGOMERY, AL (WSFA) - The City of Montgomery announced welcomed news Thursday, a major new company is planning to set up shop in the capital city.
Community Newspaper Holdings Inc. plans to relocate its corporate headquarters to Montgomery's new RSA building on Dexter Avenue.
The company is currently located in Birmingham, and CEO Donna Barrett expects the transition to happen near the end of 2011 or early 2012.
The company will bring 70 high-paying jobs with salaries averaging $75,000 to the area.
The company owns 86 newspapers, 46 nondailies and four TV stations across the country.
"Honestly, we're still talking," said CNHI, Inc. President and CEO Donna Barrett. "This is very recent and we're more than still a year out...Regardless of what time frame the building is complete. Our move will be following the completion of the building. Since we're more than a year out, I will be in Birmingham until we make the physical move."
CNHI is funded by the Retirement Systems of Alabama which also funds Raycom Media, the owner of WSFA 12 News. Raycom Media holds news partnerships with CNHI's four television stations.