By: E&P Staff
The Seattle Times Co. has renegotiated its debt, giving the publisher increased ability to continue publishing “high quality, independent journalism,” as the company indicated in a letter updating its readers on its financial status.
The missive, signed by several members of the Blethen family who control the Seattle Times Co., reaffirms its commitment to the area. “We have good news,” the letter begins, “The Seattle Times has successfully completed a renegotiation of its debt, which will enable us to continue our long-term mission of providing high-quality, independent journalism, news and opinion for the Puget Sound region and our state.”
Like many of its peers, the Seattle Times took on more debt than it could handle when the economy crashed. Last summer, the company sold its properties in Maine for an undisclosed sum.
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