Seattle P-I to be Sold or Closed

KING-TV5 ^ | 8 January 2009 | Linda Byron

[Publius]

KING 5 news has learned that Seattle may soon become a one newspaper town.

Like many newspapers across America the Seattle Post-Intelligencer has been struggling to survive.

Now, a source close to the deal tells KING 5 that the paper's owner, Hearst Corporation, will announce as soon as tomorrow that it's putting the P-I up for sale. Under the joint operating agreement between the P-I and The Seattle Times, the P-I must be offered for sale for at least 30 days before it can cease operation.

The joint operating agreement was formed in 1983 in an effort to keep both papers healthy. The P-I was granted a monopoly on morning publication. At that time The Seattle Times was one of the only profitable afternoon papers in the country.

But in 1999 the joint operating agreement was modified to allow the Times to begin publishing in the morning. Critics predicted that would eventually lead to the demise of the P-I.

We're told Hearst does not expect another buyer to step forward and that Seattle will likely become a one newspaper town within the next few months.

A call to the Seattle P-I publisher's office for comment has not yet been returned.

It would be the end of an era -- the P-I put out its first edition in 1863 and was the city's first newspaper.

It's unclear how this will affect The Seattle Times or the Blethen family, which owns 51 percent of that paper.

[NonValueAdded]

“Better Red than Read” is a failed business model.

[Publius]

Please ping the chapter.

[TheErnFormerlyKnownAsBig]

It looks like my dream of someday seeing the PI Globe sitting astride the Hat and Boots in Georgetown may occur sooner than I dreamt possible.

[SevenofNine]

HEY ABB hear about this?????

[Publius]

ROTFLMAO !!!

[TheErnFormerlyKnownAsBig]

Hey....look over here at this!

[Wally_Kalbacken]

Buy it or we will close down!

We really mean it this time!

[Palladin]

Last gasp of the Dinosaur Media.

[exit82]

What, no PIE for P-I?

[sionnsar]

Thanks to Publius for the ping.

Say WA? Evergreen State ping

FReepmail sionnsar if you want on or off this ping list.

Ping sionnsar if you see a Washington state related thread.

[wally_bert]

May The State here in Columbia and the worthless Rock Hill Herald join them.

[TheErnFormerlyKnownAsBig]

I even wrote a letter to my union newspaper and that Hat and Boots comment was prominently displayed in my printed letter.

[sionnsar]

PING-A-LING!!!!!!!! *\8^)

[Publius]

Your tagline is the funniest thing I’ve read in years.

[NoLibZone]

:)

[TheErnFormerlyKnownAsBig]

It’s a blatant ripoff of a Gladiator line......and I’m not ashamed to admit it.

[Political Junkie Too]

If this becomes a trend, it will be because they feel their job is done for the next four years.

-PJ

[sionnsar]

Buy it or we will close down!
We really mean it this time!

  Not to be uncharitable but... do it.

[editor-surveyor]

Anybody want a comPost Intelligencer? (real cheap!)