English: In the foreground the Palacio de la Prensa building. At bottom left the Torre de Madrid building. The "Palacio de la Prensa" building was designed, with New York-style, by architect Pedro Muguruza Otaño to be the headquarters of the Press Association of Madrid. The first stone was laid by King Alfonso XIII on July 11, 1925. Three years and a half later, on January 2, 1929, was inaugurated with the screening of the movie "The fate of the flesh." Designed as a multifunctional building housed a cafe concert, cinema, rental homes and offices, and at a cost of eight million pesetas (48,000 euros). With a capacity of 1840 places, sometimes worked as a theater with a small stage. In 1941, the architect Enrique López-Izquierdo again renovated the building, while in 1991 a new reform was made for conversion into multiplexes site.