Seattle Times | Crosscut Seattle | Romenesko Misc.
The Seattle papers agreed to settle all outstanding litigation and to terminate Hearst's 32% contingent interest in the JOA. Hearst, which owns the Post-Intelligencer, is paying the Seattle Times approximately $25 million in exchange for the Times agreeing not to issue any loss notice until at least 2016. "It's a new beginning for the P-I," says Roger Oglesby, publisher of the Seattle Post-Intelligencer. "This is great news for our readers, our advertisers and our employees." ||
Bill Richards has
more details. || Read Hearst's
release.
