Last week, minority shareholder McClatchy, the Sacramento newspaper chain, said it was willing to sell its not-quite-half slice of the Seattle Times. So how did a locally controlled Northwest newspaper company wind up with a national partner to begin with? The story starts in the 1920s.
The search for a buyer of the Seattle Times Co. [http://www.seattletimescompany.com/]'s Blethen Maine Newspapers chain of three dailies has narrowed to three possible purchasers, but the only organization to openly declare its interest says it won't be in that group.
The company is suing a union, saying the sale of three newspapers in Maine won't happen if the buyer must inherit a labor agreement. The proceeds of a sale are urgently needed to satisfy lenders, the lawsuit says.
While big farms are slipping in number, Washington is seeing a rise in small farms, the main supplies of farmers markets. Developers are now treating a small farm as an attractive amenity, attracting those hooked on the FarmVille fantasy game.
Estimates put the sale price at $30-40 million, about a $200 million loss from the 1998 purchase price. And the Seattle company apparently has to carry unfunded pension liabilities as part of the deal.
