I know Frank Blethen keeps saying that the impending demise of the P-I will be a boon to his rival Times, but apparently not everybody is that optimistic…
The McClatchy Co., which owns 49.5 percent of The Seattle Times Co., has again cut the value of its share of the Seattle newspaper company — this time to nothing.
Because of The Seattle Times Co’s. “comprehensive loss related to its retirement plan liabilities” in 2008, McClatchy’s investment was zero as of Dec. 28, McClatchy said in its most recent filing with the Securities and Exchange Commission.
Huh. I’m not exactly certain what a 49.5 percent stake in HA would be worth, but I’m pretty sure it’s worth more than nothing.