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Seattle newspapers settle long legal fight, JOA in effect until 201

Discussion in 'Sports and News' started by boots, Apr 16, 2007.

  1. boots

    boots New Member

    SEATTLE (AP) — The owners of Seattle’s two daily newspapers said Monday they had settled their four-year-old legal battle, keeping their joint operating agreement in place until at least 2016.
    The deal keeps both papers publishing. The Seattle Times Co. and Hearst Corp., owner of the Seattle Post-Intelligencer, announced the settlement in separate statements.
    The Times, controlled by the Blethen family, will pay $49 million to Hearst, although Hearst will pay $25 million to the Times, in exchange for the Times’ agreement not to trigger an escape clause until 2016.
    The Times has dropped all claims against Hearst, and Hearst has abandoned a 32 percent contingent interest it could have collected had the smaller P-I closed.
    The joint operating agreement between the two papers took effect in 1983. The Times operates circulation and advertising for both papers, collecting 60 percent of the profits. The two papers operate separate newsrooms.
  2. Chi City 81

    Chi City 81 Guest

  3. Trouser_Buddah

    Trouser_Buddah Active Member

    Until 201? A.D.? What calendar are you working with? :)
  4. MileHigh

    MileHigh Moderator Staff Member

  5. Hank_Scorpio

    Hank_Scorpio Active Member

    Not only is it a d_b, but it's on the wrong board too.
  6. boots

    boots New Member

    It's news hank. It could've gone on either board.
  7. It's also Anything, so I guess it should go there, too.

    Using your line of reasoning.
  8. boots

    boots New Member

  9. boots

    boots New Member

    You got the response you wanted. Now have a nice day jackass.
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