January 11, 2009

Seattle P-I may shut down

In perhaps the most vivid example of hard times for the newspaper industry, the Seattle Post-Intelligencer has been put up for sale by Hearst Corporation. They say if they don't sell the paper within 60 days, they will shut down the newspaper and operate only a website -- or close down both the newspaper and the website.

In a news release, it was noted that the paper has lost money since 2000 and that Hearst is not prepared to continue operation of the paper, which it has owned since 1921.

It was a somber scene on Friday as Hearst Newspaper President Steve Swartz shared the sad news with the P-I editorial staff.

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