Thread: Rocky Mountain News for sale
#1 Rocky Mountain News for sale
12-05-2008, 06:22 PM
- Join Date
- Aug 2005
Rocky Mountain News for sale
Parent company says it will entertain offers -- if any -- for next four-six weeks
John Temple, editor and publisher of the Rocky, talks with the newspaper's staff Thursday to answer questions about the E.W. Scripps Co.'s decision to put the paper up for sale. Scripps has owned the Rocky, which was founded in 1859, since 1926.
The ticker on the Denver Newspaper Agency building announces Thursday that the Rocky, the oldest newspaper in Colorado, is for sale. If a buyer doesn't step forward soon, it's possible the newspaper will close.
E.W. Scripps CEO Rich Boehne rubs his eyes after talking to reporters Thursday about the decision to sell the Rocky Mountain News. He said Scripps expects the Rocky to lose $15 million this year.
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The head of Cincinnati-based E.W. Scripps, the Rocky's owner, acknowledged in making the announcement Thursday that if a buyer does not step forward in the next four to six weeks that the paper could be closed - a move that could occur as soon as early 2009.
"We're not here today to close the paper," Rich Boehne, president and chief executive of Scripps, told staffers gathered in the newsroom late Thursday morning. "We're here today to say the status quo is not going to work."
Scripps expects the Rocky to lose $15 million this year, Boehne said.
"It's too early to write the obituary of the Rocky Mountain News - way, way too early," said Mark Contreras, senior vice president of the newspaper division for Scripps.
The paper is caught in a complex and fast-changing media world and a crumbling economy that has seen newsrooms across the nation decimated in recent months. Just this week, Gannett Co. Inc., the country's largest newspaper company, began a round of layoffs expected to eliminate at least 2,000 jobs at its 85 U.S. newspapers. And nearly every large paper in the country has laid off workers in 2007 and 2008.
12-05-2008, 06:28 PM
- Join Date
- May 2008
- Sonora, Texas
They have been for sale for years.
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