We’re hearing chatter (once again) that the Seattle Times is considering filing for bankruptcy reorganization.
If true, word is the Times isn’t looking at any major changes or additional layoffs, but merely looking to stabilize its financial situation.
Of course, declaring bankruptcy would likely open up the Seattle Times’ long-confidential books to the public. It would also raise questions about whether their lenders have run out of patience. Finally, it would raise questions about whether the Times would seek more concessions from their unionized employees. (In addition to laying off about 500 employees in the last two years, they’ve already won significant wage concessions from the newspaper guild.)
Also if true, this glowing New York Times story published in early August about the Seattle Times would look pretty silly.
Seattle Times spokeswoman Jill Mackie said she could not comment on rumors.
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They must be trying to get their B&O tax rate reduced again….
[Times] isn’t looking at any major changes or additional layoffs, but merely looking to stabilize its financial situation.
Well, that’s dandy, except that the Times won’t have a lot of control over that if they file. The judge will; unless the fix is already in for the Blethens.
So what are the odds Seattle will soon be a no newspaper town?
@3, Seattle’s Only Newspaper is still the Stranger.
I heard a rumor that publicola is full of shit. Wonder if I should blog about it and stir up a bunch of speculation without any facts to support it?
The Stranger hasn’t been in a newspaper in the years since, under Savage, it turned to shit and the hogs ate it. Even Slog now is nothing but a “news aggregator,” stealing others’ work to stay alive. You can look it up.