When Dorothy Stimson Bullitt of Seattle started King Broadcasting in 1946, she bankrolled the venture with her family’s lumber fortune. Now the radio-and-TV empire is worth as much as $650 million, and her daughters want to put the wealth back where it came from: the environment. Harriett Stimson Bullitt, 65, and Priscilla Bullitt Collins, 69, said last week they will place the family- owned company up for sale to raise money to protect the Northwest’s natural beauty. Their empire includes six television stations, six radio stations and 13 cable-TV systems.
The sale will provide an infusion of cash for the King Foundation, which for 30 years has been a contributor to environmental groups ranging from the Sierra Club to Adopt-a-Stream. “The causes that we’re interested in need help now, not 10 years from now,” explains Bullitt. “Money does the most good if you do something preventive, rather than something remedial.”
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