By: Joe Strupp The Rocky Mountain News of Denver will be closed after a search for a buyer proved unsuccessful, the paper revealed in a Web story 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 E.W. Scripps, said in a statement quoted in the story. "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 Post has already hired a bunch of top Rocky staffers. For list:
http://poynter.org/forum/view_post.asp?id=13833
On Dec. 4, Scripps announced it was putting up for sale the Rocky and its 50% 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 paper lost $16 million in 2008.
The story revealed a 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, according to the company?s press release.
The final edition will include a 56-page history of the paper.
The Denver Post's obit observed:
"A nearly 150-year publishing run will end Friday as the Rocky Mountain News prints its final edition.
"The News becomes the latest casualty in an industry stricken by a spiraling decline in newspaper economics....
"More than 200 newsroom staffers will face their last deadlines and file their final stories after enduring months of nervous uncertainty over the News' future.
"Known familiarly as the Rocky, the newspaper founded in 1859 was Colorado's first. It's believed to be the longest-running business in Denver."
The Rocky live-blogged the closing announcement and questions staffers posed to executives. Here is one portion of that from around 12:30 p.m., Denver time:
*
Q: The Denver Post seems in worst shape than us. They need to borrow money to meet payroll. Why didn?t they close?
Boehne: That?s up to Dean (Singleton). We knew that this market wasn?t viable for us.
12:33 p.m.
Boehne says nothing was certain until this week.
You go back five days, I didn?t know how this was going to turn out.
Other markets have sought protection from courts.
12:35 p.m.
Quick question: Why didn?t you?
Boehne: We are a partnership, it takes two. That?s a good question for ? the Denver Post.
Mark: There?s a third partner here, a wild card, the Justice Department:
He said that made it more complicated.
Boehne said nobody stepped up in the community to help save the Rocky.
12:39 p.m.
Boehne: I could say really stupid things like I know how your feel. I don?t. All I can say is that I?m deeply sorry.
Temple: This is a really sad end to a beautiful thing. You guys have done a fantastic job between December 4 and today; people outside could not tell from looking at it the personal struggles.
We have one last shot at producing a great newspaper. Let?s do it.
Comments
No comments on this item Please log in to comment by clicking here