The Sudbury Star has sold its landmark downtown building, but the newspaper will be staying put.

The Mackenzie Street property in downtown Sudbury was bought by a numbered company for $1.3 million — exactly what the 60-year-old building was listed for when it went up on the market last year.

Sudbury Star publisher Bruce Cowan said the newspaper will now rent part of the building from the new owners

"This building has been perhaps a little too big for our needs," he said "So what this allows us to do is right-size."

The newspaper, which is part of the Sun Media chain, has about 46 full- and part-time employees.

Newspaper closing?

The sale of the building has prompted observers to question the newspaper’s future.

"Some people, I have to admit, have wondered [if] the Sudbury Star is closing," Cowan added.

"Fortunately … we've been around for more than 100 years and we still plan to be here for a great many years yet."

Many companies and organizations, including the provincial government, are now selling their buildings and leasing space they used to own with the hope of saving money in the long-run.

Cowan said he expects the rest of the building will be rented out to other tenants.