Seattle Post-Intelligencer to Go Web-Only

Seattle will be a one-newspaper town after Tuesday, when the 146-year-old Seattle Post-Intelligencer prints its last edition.The P-I will continue to live on the Internet with a much smaller staff.Parent company Hearst Corp. says it has failed to find a buyer for the newspaper, which it put up for sale in January after nine years of financial losses.The end of the print edition leaves The Seattle Times as the only major daily in the city.The announcement comes about two weeks after Denver's Rocky Mountain News published its final edition.Seattle P-I Editor and Publisher Roger Oglesby addressed staff in the newsroom Monday morning. Here are his remarks, and then a statement from Seattle Times publisher Frank Blethen.*OGLESBY: Tonight we'll be putting the paper to bed for the last time. But the bloodline will live on.Hearst is announcing today that the P-I will become an online-only news operation. The last print edition will appear tomorrow.We have copies of the press release for you, as well as a letter from (The Hearst Corp. CEO) Frank Bennack and (Hearst Newspapers President) Steve Swartz. But first I have just a couple of things to say.This is a hard day for all of us. We were fortunate to be part of a great newspaper with a great tradition, and we've been blessed to be part of a wonderful group of talented people. We all hate to see that end.But we knew it was coming. Hearst fought for years to keep this place going, but time and these rotten economic conditions finally caught up with us.But there's another part to the story, and I'm not going to let you forget it. It's the part that has to do with what will live on and who's responsible for it. Tomorrow, SeattlePI.com will be reborn, outside the JOA. It will continue, and it will thrive, and it will be a strong and vital voice of this city for years to come.Some of you will part of that ongoing effort, and you have an exciting road ahead of you. But we should all remember that everybody at this paper helped to build SeattlePI.com and the foundation on which its future will rest. Every one of you, everyone at this paper, should take pride in that. I will, and you should, too.As for the paper, tonight will be the final run. So let's do it right. This is a great newspaper and has been for a long time. Let's show the world it still is. Let's show them what we can do, one more time.Seattle Times publisher Frank Blethen released this statement.*BLETHEN: 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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Seattle Post-Intelligencer to Go Web-Only

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