Seattle Post-Intelligencer is put up for sale (MSM death watch)

Yahoo Finance ^ | 1-9-2009 | Gene Johnson and Phuong Le, Associated Press Writers

[Danae]

* Gene Johnson and Phuong Le, Associated Press Writers * Friday January 9, 2009, 8:08 pm EST

SEATTLE (AP) -- Hearst Corp. put Seattle's oldest newspaper, the Seattle Post-Intelligencer, up for sale on Friday and said that if it can't find a buyer in the next 60 days the paper would likely close or continue to exist only online.

If it does become an Internet-only operation, the P-I, as the paper is known locally, would have a "greatly reduced staff," Hearst said in a statement. Hearst is a major media company that also owns TV stations, other newspapers and magazines including Cosmopolitan.

"In no case will Hearst continue to publish the P-I in printed form" once the 60 days are up, Hearst said. Steve Swartz, the head of Hearst's newspaper division, broke the news to employees in a meeting Friday.

Seattle is one of two major cities on the verge of losing its second daily newspaper as the industry tries to pull out of a tailspin brought on by falling circulation and advertising revenue. Denver's Rocky Mountain News recently put itself up for sale in the face of steep losses and could close if a buyer isn't found soon.

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More at link

[Danae]

Well, I do think it's sad that many will lose their jobs in a really tough economy, but otherwise..... It's about time!!!

I am not going to hold my breath, but it perhaps the MSM will take the hint now, no one is interested in their Liberal Brainwashing Crappola anymore.

[Mark was here]

I never understood why the newspapers charged so much for want ads and obituaries ... they were just daring their customers to look elsewhere. It was like tapeing a kick me sign on your own back.

[alloysteel]

So who is buying? Certainly not the bulk of the public in Seattle. There is always a small number who would subscribe or buy the paper on a daily basis if it were available, but they may no longer provide a sufficiently large demographic to support the assembly, printing, distribution and sale of the printed medium. Once the demographic dries up, so does the revenue from advertisers, the thing that keeps the print media alive.

Then the paper becomes nothing but a pamphlet, a throw-away to be distributed by low-paid part-time agents.

Once weaned away from the daily newspaper, the bulk of the public may never go back.

[pepsionice]

I think if you drew up a list of the top 100 papers in America today....and go back in 2012...it’ll be forty less. Towns of 20k to 70k residents can readily support a local paper, which aims its news at local events and topics. These larger national papers really don’t have a base of attached readers.

[Mad_Tom_Rackham]

[LostInBayport]

I am not going to hold my breath, but it perhaps the MSM will take the hint now, no one is interested in their Liberal Brainwashing Crappola anymore.

They might take the hint, or they might predictably deny reality and deflect blame to the economy or Bush. But they couldn't make the same argument with television, if cable and satellite subscribers were allowed ala carte programming options.

Liberal garbage scows like MSNBC would fold, or they would take the equally liberal PBS stance of begging viewers for money. I can see that Keith Old-whatever now: "If you don't send us some money to pay for my pedicures and bikini waxes, you're the worst person ever!"

I would love to see ala carte programming...I think the overall quality of news and entertainment television in general would improve, or it would die. The latter is happening with newspapers.

[HardStarboard]

I’d like to think that my refusal to buy this worthless rag over the past 35 years has lead to their downfall - but evidently Seattle liberals weren’t impressed with the “PI” either.

[dainbramaged]

“I never understood why the newspapers charged so much for want ads and obituaries..”
When my Dad passed away (4/07) the Seattle P-I charged me $650.00 for a one-day obituary with photo.

[Eye of Unk]

The MSM gets that sinking feeling.

[wideminded]