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Friday, January 30, 2009

City / Media The Million Dollar Question

Posted by on Fri, Jan 30, 2009 at 5:40 PM

I posted earlier today about a non-answer I received from a Hearst Corporation spokesman in response to two questions about his company's plans for the Seattle Post-Intelligencer. Here's a third question, which I've asked of both Hearst Corp. and The Seattle Times Company—and can't get answered by either:

Is Hearst going to make, or has it already made, the $1 million payment that it needs to deliver by Feb. 1 in order to secure a "right of first refusal" to buy The Seattle Times if the Blethen family ever puts the Times up for sale?

February 1 is Sunday. If Hearst hasn't made the payment, and doesn't by the end of the day on Sunday, that could add a million reasons to believe the company's professed disinterest in buying the Times. (Or it could just mean that Hearst thinks it doesn't need the "right of first refusal" anymore—because who else would want to buy the Times right now?) On the other hand, if Hearst has made, or does make, the payment—well, that suggests a very serious interest in being absolutely assured that it's first in line if the Blethen family ever decides to sell.

 

Comments (7) RSS

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1
February 1 is Sunday.
Posted by Ben on January 30, 2009 at 5:44 PM
2
@1: Yikes. Thanks. And today must really be Friday... Most other days I know how to read a calendar. Fixed.
Posted by Eli Sanders on January 30, 2009 at 5:49 PM
3
Eli:

Better check again. Hearst already *has* the right of first refusal for any sale of the Times.

I'm told by a reliable source that Blethen has been begging Hearst to take the Times off his hands. Hearst has probably been stalling to drive the price down.

Seattle will be well rid of this sociopathic, dog-shooting little prick and his stupid children.
Posted by ivan on January 30, 2009 at 6:04 PM
4
Correct - as it was earlier this week when this first appeared in the Weekly. But keep bringing us those great no-comment comments!

BTW, I laughed out loud at the Joel item: one reporter telling another reporter there is no news to report, which you reported anyway.
Posted by Menace on January 30, 2009 at 6:26 PM
5
I like to comment on reports of reporters reporting there is nothing to report. Whoa, I have to sit down. Wait, I'm sitting already. Whoa.
Posted by tomasyalba on January 30, 2009 at 11:02 PM
6
@2 - yeah, if it was Saturday, I wouldn't be working today.
Posted by Will in Seattle on January 31, 2009 at 2:08 PM
7
I like to comment on comments of reports of reporters reporting there is nothing to report. Get off your ass Thomas.
Posted by Menace on February 1, 2009 at 9:04 AM

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