By: Staff Reports $13 Million Deal Falls Through
The Miami Herald won't be placing its name on the Broward County convention center, bringing a contentious $13 million deal to an end, The Associated Press reports.
According to Herald Publisher Alberto Ibarguen, sponsors of the center's annual boat show refused a $1 per ticket surcharge. The newspaper planned to deposit the money with its charities.
Under the proposed 15-year deal, the building would have been called the Herald Center at Greater Fort Lauderdale, placing the Miami paper's name in a market where it competes with Tribune Co.'s South Florida Sun-Sentinel.
The failed agreement had sparked an ethical debate over a media company being linked financially with a publicly owned building.
Under the terms of the arrangement, the Herald would have paid $7.1 million in cash and provided $6.3 in free advertising for the center. The Herald's logo would have appeared on all tickets, programs, mailings, and advertisements for the convention center.
Broward County commissioners will meet next Tuesday to consider renaming the center.
Copright 2000, Editor & Publisher.
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