KING-5 is reporting that the Hearst Corporation is putting the Seattle P-I up for sale… a prelude to the folding of Seattle’s first daily newspaper.
[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.
[…] 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.
Ironically, there’s been much chatter recently about the Seattle Times’ fast deteriorating financial situation, with speculation that the Blethen family might be forced to sell or shut down it’s paper. Hmm. I wonder if Seattle might become a no-newspaper town?