Monday, March 16, 2009

Hearst prints final Seattle PI as newspapers dwindle

The Hearst Corp plans to roll out the final print edition of its ailing Seattle Post-Intelligencer on Tuesday then move it online, ending speculation about the fate of the 146-year-old newspaper as crumbling advertising and the Internet wallop the industry.

Hearst, which failed over two months to find a buyer for the venerable daily, on Monday said it will move 20 of the newspaper's workers to the new, free online business, while another 145 had taken severance packages.

The Post-Intelligencer, which Hearst said is the largest daily newspaper to migrate entirely to an online version, underscores the depth of a sector downturn as readers increasingly get their news online and a deepening recession undercuts advertising spending across the globe.

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