By: E&P Staff
Profit and advertising revenue for the two Denver dailies plunged last year, a new document reveals.
MediaNews Group, owner of The Denver Post and a partner in the Denver Newspaper Agency with Rocky Mountain News owner E.W. Scripps Co., on Monday filed the agency’s financial statements with the Securities and Exchange Commission.
The Rocky Mountain News reports today that the figures “show total revenue at the agency dropped 5.3 percent in 2006 to $409 million, compared with $431.7 million in 2005….Advertising revenue dropped 7.1 percent from 2005 to 2006’s $339.5 million.
“Net income fell from $71.1 million in 2004 to $47.2 million in 2005 and $18.5 million in 2006.”