Ben Twingley/btwingley@pnj.com

Published: Jan 02, 2014 5:44 AM EST

PENSACOLA, Fla. (AP) - A developer has bought the building where the Pensacola News Journal has been produced since 1969.
    
The newspaper reports (http://on.pnj.com/1cYqLNW ) that Quint Studer's Daily Convo LLC bought the 5.85-acre downtown Pensacola site from the Gannett Company Inc. for $3.4 million.
    
Studer says he plans to develop the site with residential housing.
    
Gannett has signed a six-month lease of the property while a new home for the newspaper is found.
    
Studer also owns several other Pensacola properties and a minor league baseball team.
    
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Information from: Pensacola (Fla.) News Journal, http://www.pensacolanewsjournal.com

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