Posted on 02/26/2009 11:18:28 AM PST by abb
Colorado's oldest newspaper will publish its final edition Friday.
The Rocky Mountain News, less than two months away from its 150th anniversary, will be closed after a search for a buyer proved unsuccessful, the E.W. Scripps Co. announced today.
"Today the Rocky Mountain News, long the leading voice in Denver, becomes a victim of changing times in our industry and huge economic challenges," Rich Boehne, chief executive officer of Scripps, said in a prepared statement. "The Rocky is one of America’s very best examples of what local news organizations need to be in the future. Unfortunately, the partnership’s business model is locked in the past."
The Rocky has been in a joint operating agreement with The Denver Post since 2001. The arrangement approved by the U.S. Justice Department allowed the papers to share all business services, from advertising to printing, in order to preserve two editorial voices in the community.
However on December 4 Scripps announced it was putting up for sale the Rocky and its 50 percent interest in the Denver Newspaper Agency, the company that handles business matters for the papers, because it couldn’t continue to sustain its financial losses in Denver. Scripps said the Rocky lost $16 million in 2008.
One possible buyer emerged by the mid-January deadline to express interest in acquiring the paper, Scripps said. But the buyer was “unable to present a viable plan” for the paper, the company’s press release said.
Since then, Scripps said, it has been working with MediaNews Group, owner of The Post, to come up with a plan to allow it to exit Colorado. It also shares 50-50 ownership with MediaNews of Boulder’s Daily Camera and a handful of other smaller papers in the state.
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(Excerpt) Read more at rockymountainnews.com ...
ping
Leaving only the Communist Party House Organ Denver Post in Denver. Too bad. If one of those papers had to close, it should have been the Dishonest Post.
So E.W. Scripps provided its own? That seems rather selfish.
The Denver Post won’t be far behind. I give it another year or so.
Apparently the El Paso Times, which Singleton owns, is for sale. If it doesn’t sell, and who would be nuts enough to buy it, it will close and El Paso will have no daily newspaper. I think the huge re-shuffling of how people get their news is now in full swing. People like Singleton have cut their own throats.
Next : the Dishonest Post
Too bad they didn’t quadruple their spending. They might have survived (according to Democrat logic).
http://www.marketwatch.com/News/Story/Story.aspx?guid={444E0557-3BE7-4C85-B05D-9D9DBE48C161}&siteid=nbih
Moody’s downgrades Gannett bonds to junk status
http://www.fitzandjen.com/
Piggy Bank Can Handle 2009, New York Times Co. Says
Hey, they used to be the good guys compared to the liberal Denver Post
Tweedle-Dum dies and only the Tweedle-Dee Denver Post survives. Ho-hum.
If these dopes had any sense they would have made the Rocky a conservative paper and won back some of us who stopped buying papers because we don’t think uncritical liberal cheerleading in newspapers should be rewarded.
Stupid journalism does not deserve to survive, good riddance.
-—Former Two-A-Day addict.
yes, out of business
El Paso will have to rely on Mexico newspapers I guess
RIP, Rocky Mountain News!
feeding off the bloody rectum debris
There are two Spanish language newspapers I know of in El Paso, La Opinion and El Diario. Another American city that has been invaded, colonized and turned into a third world hell hole.
Kind of a bummer for me personally. They did a feature article on me about 15 years ago that then hit the wires. I guess it was my 15 minutes of fame, but I always had a soft spot for them because of it.
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