After eight months on the market, it looks like the Blethen family has finally found a buyer for its struggling Maine newspaper properties, and while the terms of the deal have not been announced, it is likely the Blethens will ultimately realize a nine-figure loss on their ten-year foray into the media market of their ancestral homeland. Looks like Frank’s own business decisions will end up costing his heirs a helluva lot more than Washington’s estate tax.
That said, any sale is good news for the Blethens, who need the cash to help shore up the sagging fortunes of their flagship Seattle Times. And anything that helps stabilize their publisher’s finances is surely good news for Times staffers, who are already bracing themselves for another round of layoffs, expected to be finalized this week.