P-I To Announce Tomorrow That It's For Sale

Just sitting here, watching the news, when woah! WTF? According to King-5 news at 5 p.m., the P-I will announce tomorrow that the paper is for sale. If it doesn't sell within 30 days, it will shut down entirely. That's pretty much all they know right now, since they're waiting for direct comment from the publisher. Anyone wanna buy a newspaper? We hear there's a bright future for print media.

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By Kim Ruehl in News on January 8, 2009 5:05 PM

Comments [rss]

bilco

Or, as they say "all your base are belong to us"

LarryB

Lovely. All of our mainstream media will now be evil.

bilco

The sainted Blethen clan has finally driven the stake into their heart, I guess.

Fortunately, I have my checkbook at hand...

MvB

I'm curious how this will turn out, if true. The Hearst m.o. is to wait for its JOA partner to weaken until it's a good buy-out prospect, then sell its paper and buy the competitor. With the Times in its cash-crunch, the timing of this sale doesn't seem all that surprising. They've got to get the P-I off their hands to make their move.