Hearst Corp., which owns the 146-year-old P-I, said Monday that it failed to find a buyer for the newspaper, which it put up for a 60-day sale in January after years of losing money. Now the P-I will shift entirely to the Web.
Hearst's decision to abandon the print product in favor of an Internet-only version is the first for a large American newspaper, raising questions about whether the company can make money in a medium where others have come up short.
Seattle follows Denver in becoming losing a daily newspaper this year. The Rocky Mountain News closed after its owner, E.W. Scripps Co., couldn't find a buyer. In Arizona, Gannett Co.'s Tucson Citizen is set to close Saturday, leaving one newspaper in that city.
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