Seattle Post-Intellingencer is up for sale

The Seattle Post-Intelligencer, which first rolled off the presses in 1863 and has been the state's longest-publishing newspaper, is up for sale, according to the paper's Web site.

The newspaper's staff was called into a closed meeting today by publisher Roger Oglesby. Present at the meeting was Hearst Newspaper President Steve Swartz, who told the newsroom that Hearst Corp. is starting a 60-day process to find a buyer.

If a buyer is not found, Swartz said, possible options include creating an all-digital operation with a greatly reduced staff, or closing its operations entirely.

In no case will Hearst continue to publish the P-I in printed form, Swartz said.

Regardless, he said the P-I as a newspaper will not publish after the two months is up if no buyer is found.

Swartz said the company is not interested in attempting to purchase The Seattle Times newspaper.

Swartz discounted rumors that Hearst, the P-I's owner since 1921, was interested in buying The Seattle Times newspaper. He said the P-I has had operating loses since 2000, losing around $14 million this past year. Greater losses are anticipated this year, he said.

Click on the headline to read the full story by Eric Pryne in the Seattle Times