Archive for January 11th, 2009

Why the PI failed

I think this quote from David Horsey is on target:

If it no longer made sense for Hearst to purchase another debt-ridden property like the Times, there was also no longer any reason to keep losing money by keeping the P-I afloat.

The whole raison d’etre of the PI was to hold out until it could buy The Seattle Times. When that goal didn’t make sense, staying in business didn’t make sense.

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