This building was ordered by basque richman Horacio Echevarrieta in 1924 to Pedro Muguruza. Echevarrieta had many businesses, including a newspaper (El Liberal) and a radio (Unión Radio, which later became Cadena Ser). The name of the building comes from the fact that the Press Association rented a space there, but Echevarrieta housed more businesses in it, including a cinema with capacity for 1,800 people.
From an architectural point of view, its main feature is that it has brown bricks on its surface, like Chicago’s Auditorium. Though Echevarrieta owned the whole building, this was not a very profitable business. He actually lost a lot of money here, as crisis avoided it being filled.