BUSINESS BRIEFING / PUBLISHING
From Times Wire Reports
Hearst Corp. put 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.
Seattle, along with Denver, is 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.
Hearst has owned the P-I since 1921, and the paper has had operating losses since 2000, including $14 million last year.
The Post-Intelligencer has a weekday circulation of about 117,000.
