LAWSUITS NEWS & LEGAL INFORMATION
Seattle Times Co.
Seattle, WA: (Aug-02-07) Seattle Times Co. and Hearst Corp., owner of the Seattle Post Intelligencer, have been embroiled in a legal battle over their joint operating agreement. Since 1983, Seattle Times has handled business functions such as advertising, circulation and printing, for both papers. In exchange, Seattle Times has kept 60% of their joint profits.
In a settlement reached, Seattle Times agreed to pay $24 million to Hearst. The Seattle Times also offer to pay $49 million to settle Hearst's legal claims and buy Hearst's right to collect 32% of Seattle Times' profits through 2083 should the P-I close, offset by the $25 million Hearst is paying for The Times not to try to end the joint-operating agreement before 2016. [THE COLUMBIAN: NEWSPAPER AGREEMENT]
Published on Aug-4-07
In a settlement reached, Seattle Times agreed to pay $24 million to Hearst. The Seattle Times also offer to pay $49 million to settle Hearst's legal claims and buy Hearst's right to collect 32% of Seattle Times' profits through 2083 should the P-I close, offset by the $25 million Hearst is paying for The Times not to try to end the joint-operating agreement before 2016. [
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