Friday, January 09, 2009
Seattle PI to be sold or closed down
by Larry Geller
Sadly, Ian Lind’s report this morning that the Seattle Post-Intelligencer might close is coming true:
Hearst Corp. is seeking a buyer for its Seattle Post-Intelligencer newspaper within 60 days after losing $14 million last year amid dwindling circulation and advertising revenue.
If it fails to find a buyer, Hearst, based in New York, will stop printing the newspaper and only offer it online and cut jobs or shut it down entirely, the publisher said in a statement. [Bloomberg, 1/9/2008]
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