Posted tagged ‘Hearst’

Seattle Post-Intelligencer Goes Web Only

March 16, 2009

It was announced today that the Seattle Post-Intelligencer will print its final edition Tuesday.

From the Associated Press:

Hearst Corp., which owns the 146-year-old P-I, said Monday that it failed to find a buyer for the newspaper, which it put up for a 60-day sale in January after years of losing money. Now the P-I will shift entirely to the Web.

“Tonight will be the final run, so let’s do it right,” publisher Roger Oglesby told the newsroom.

Hearst’s decision to abandon the print product in favor of an Internet-only version is the first for a large American newspaper, raising questions about whether the company can make money in a medium where others have come up short.

David Lonay, 80, a subscriber since 1950, said he’ll miss a morning ritual that can’t be replaced by a Web-only version.

“The first thing I do every day is get the P-I and read it,” Lonay said. “I really feel like an old friend is dying.”

Hearst’s move to end the print edition leaves the P-I’s larger rival, The Seattle Times, as the only mainstream daily in the city.

“It’s a really sad day for Seattle,” said P-I reporter Angela Galloway. “The P-I has its strengths and weaknesses but it always strove for a noble cause, which was to give voice to those without power and scrutiny of those with power.”

Seattle follows Denver in losing a daily newspaper this year. The Rocky Mountain News closed after its owner, E.W. Scripps Co., couldn’t find a buyer. In Arizona, Gannett Co.’s Tucson Citizen is set to close Saturday, leaving one newspaper in that city.

And last month Hearst said it would close or sell the San Francisco Chronicle if the newspaper couldn’t slash expenses in coming weeks.

The newspaper industry has seen ad revenue fall in recent years as advertisers migrate to the Internet, particularly to sites offering free or low-cost alternatives for classified ads. Starting last summer, the recession intensified the decline in advertising revenue in all categories.

Four newspaper companies, including the owners of the Los Angeles Times, Chicago Tribune and The Philadelphia Inquirer, have sought Chapter 11 bankruptcy protection in recent months.

For Sale: Seattle Post-Intelligencer

January 9, 2009

Ever wanted to own your very own newspaper? The Hearst Corporation put Seattle’s oldest newspaper, the Seattle Post-Intelligencer, up for sale today. The company also stated that if it can’t find a buyer in the next 60 days, the paper will close or continue to exist only on the Internet.

From the Associated Press:

“These options include a move to a digital only operation with a greatly reduced staff, or a complete shutdown of all operations,” Hearst, the P-I’s parent company, said in a statement. “In no case will Hearst continue to publish the P-I in printed form following the conclusion of this process.”

Hearst Newspaper Division President Steve Swartz broke the news in a meeting with newspaper employees.

The statement said Hearst is not considering buying The Seattle Times, the city’s other daily paper. Hearst has owned the P-I since 1921, and the paper has had operating losses since 2000, including $14 million last year.

The mood in the newsroom was grim. Some staff members cried, others were angry.

“People are kind of depressed. There’s some crying,” said Candace Heckman, P-I breaking news editor who has worked at the paper since 2000.

Heckman told The Associated Press that Swartz was peppered with many questions by staffers but declined to say more.

“Our journalists continue to do a spectacular job of serving the people of Seattle, which has been our great privilege for he past 88 years,” Swartz said in a written statement. “But our losses have reached an unacceptable level, so with great regret we are seeking a new owner for the P-I.