Media Roundup: Seattle Paper May Close, Star Tribune May File for Bankruptcy, and More

(MoneyWatch)  Seattle paper may close -- A local Seattle television station is reporting that the Seattle Post-Intelligencer is preparing to close down after being unable to find a new owner. The report has not been confirmed by the paper's owner or publisher. [Source: Seattle Times]

Star Tribune may file for bankruptcy -- The Minneapolis Star Tribune announced that if there are no concessions from unions it will be forced to file for bankruptcy. As of yesterday, company representatives and union heads ended negotiations without such an agreement. [Source: Editor and Publisher]

Media layoffs highest in seven years -- According to a report, the media industry lost 28,083 jobs last year. The layoffs were the highest since 2001, when the post dot-com bubble resulted in 43,420 employees seeing a pink slip. [Source: The Hollywood Reporter]

Dow Jones freezes most salaries -- Blaming the recent economic slowdown, Dow Jones has informed employees that they will not see a bump in salary for 2009. The memo does mention that the freeze does not apply to employees governed by a collective bargaining agreement. [Source: MediaBistro]

Buffalo News offers buyouts -- The Warren Buffett owned Buffalo News has offered buyouts to 300 of 820 employees. The buyouts are the second at the Buffalo daily, and the first to include editorial employees. [Source: MediaBistro]

How does Google make money? -- Aside from search advertising, most of Google's products generate no income. Google CFO Patrick Pichette says he will make a priority of monetizing some of the 47 properties that currently operate in the red. [Source: Silicon Alley Insider]