P-I, Seattle Times settle JOA litigation

[govegan]

Source: Seattle Post-Intelligencer

Seattle will remain a two newspaper town. The litigation between the Hearst Corp., the publisher of the Seattle P-I, and The Seattle Times Co. has been settled, the companies announced Monday morning.

All outstanding litigation has been settled, and the Hearst Corp. will end its 32 percent contingent interest in the joint-operating agreement for the two newspapers. That 32 percent interest is what Hearst would get if the P-I folded and the JOA continued.

"This is a good deal for the P-I. It's a good deal for all newspaper readers of Seattle. It's good for our employees. I'm glad it's worked out this way," said Roger Oglesby, the P-I publisher.

"We're happy to have found common ground, and we think this is a very positive development," said Jill Mackie, The Seattle Times Co. vice president of public affairs.

Read more: http://seattlepi.nwsource.com/local/311791_joa16ww.html

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This is good news for Seattle and Washington in general, as these papers are widely distributed.

The P-I, for a mainstream publication, has a somewhat liberal bent in editorials and content. The Seattle market will be better served with this new agreement, as opposed to the uncertainty of the litigation or the folding of one or both papers.

[uppityperson]

1. Thanks for the news. Good to have a 2 paper town.