SEATTLE — The Seattle Times Co. announced Monday it is exploring the sale of its newspapers in Maine.
Citing challenges within the industry, Chief Executive and Publisher Frank Blethen said the company needs to focus on the future of its newspapers in Washington state.
The sale would include the Portland Press Herald/Maine Sunday Telegram, the Kennebec Journal, the Morning Sentinel and MaineToday.com.
“The decision to explore a sale was painful. But a sale may be the best opportunity for the long-term survival of our newspapers in Washington and those in Maine,” Blethen said.
The Blethen Maine Newspapers have about 500 employees and combined circulation of about 101,000 daily and 136,900 Sunday.
“We have been proud to be the stewards of these newspapers for the last 10 years. They provide their community with high-quality, independent journalism that is in keeping with the best traditions of the Seattle Times Co.,” Blethen said. “We wish our stewardship could continue indefinitely, but the difficult business environment and continuing uncertainties require we consider other options.”
Chuck Cochrane, chief executive and publisher of Blethen Maine Newspapers, said he does not anticipate that the decision will require changes in policies or operations of the newspapers while a sale is being explored.
The Portland Press Herald/Maine Sunday Telegram announced last week that it was eliminating 27 jobs, resulting in 15 layoffs, because of the weakening national economy and a continuing downturn in advertising. Cochrane said advertising this year is “considerably below budget” and the outlook for the remainder of 2008 is not much brighter.
The newspaper also said it was cutting the space devoted to news and photographs and scaling back on supplemental news services.
Newspapers nationwide have been cutting staff and trimming costs in response to a slowing economy and the loss of readers and advertising dollars to the Internet.
The Seattle Times has engaged Dirks, Van Essen &Murray of Santa Fe, N.M., as a broker to assist with the potential sale.
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