The Seattle Times publisher also suggests that the P-I's closure is not, by itself, going to save his newspaper. Full statement in the jump.
The Hearst Corporation’s announcement that it is closing the Seattle P-I is unfortunate, but understandable, given the significant losses that both newspapers have experienced as a result of the Joint Operating Agreement.Though The Seattle Times and the Seattle P-I have been fiercely competitive, we find no joy in the loss of any journalistic voice. Today’s announcement is an acknowledgement that in the current economy it is a struggle for even a single newspaper to be profitable and impossible for multiple papers in a single market.
An end to the JOA gives The Seattle Times the best opportunity to be viable long term, but, short term, weathering this recession will still be a significant challenge. Even without the JOA, The Seattle Times must continue to achieve additional efficiencies and cost savings in order to weather this very difficult time and emerge with a sustainable business model for the future.
We know that there is — and will continue to be - a strong demand for the journalism and community service that newspapers provide. As the largest daily newspaper in Washington state and the Web site with the largest local audience, we remain hopeful that The Seattle Times will be able to serve the community with journalism of distinction for many generations to come whether in print, online, or in new platforms not yet imagined.
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