Originally published February 4, 2009 at 11:16 AM | Page modified February 4, 2009 at 12:31 PM

Hearst forgoes first right of refusal to buy The Seattle Times

Hearst Corp. says it has not yet decided whether to turn Seattle's oldest daily newspaper into an Internet-only operation. In a letter Wednesday...

The Associated Press

Layoff Ledger

A database of job losses, layoffs and plant closures in Washington state. Submit a tip.

SEATTLE — Hearst Corp. says it has not yet decided whether to turn Seattle's oldest daily newspaper into an Internet-only operation.

In a letter Wednesday to the Committee for a Two-Newspaper Town, which is a group devoted to keeping the Seattle Post-Intelligencer alive, the company says it's still reviewing its options.

Hearst announced last month that it was putting the P-I up for sale, and that if no buyer emerged the paper would likely be shut down or left as a news Web site with a greatly reduced staff.

Hearst also revealed two other details in its letter. First, it says it will not make a final $1 million payment this year to The Seattle Times to maintain its right of first refusal should The Times be put up for sale. Secondly, it says that if the P-I becomes an Internet-only operation, it will do so outside the joint-operating agreement that governs the relationship between The Times and P-I.

More Business & Technology headlines...

Print Share: Digg Newsvine