NEW YORK (Reuters) - Employees at the Seattle Post-Intelligencer will learn next week whether Hearst Corp will name a buyer for the daily newspaper, close its print edition or shut it down entirely.
“We expect to announce a decision regarding the P-I at some point next week,” Hearst spokesman Paul Luthringer said in a one-sentence statement sent to Reuters on Wednesday.
Hearst, which is also is threatening to close the San Francisco Chronicle unless it can save money through layoffs and other cost cuts, has already warned P-I employees that they could lose their jobs as early as March 18.
A small group of employees has received provisional job offers to join a smaller Internet-only version of the paper if Hearst decides to shed the print edition.
The Post-Intelligencer lost $14 million in 2008 and may lose more money this year, Hearst said in January.
If the Post-Intelligencer ends its 146-year run, The Seattle Times will be the only paper remaining in the city. That paper is owned by the Blethen family, with Sacramento, California-based publisher McClatchy Co owning a minority stake.
Reporting by Robert MacMillan; Editing by Tim Dobbyn