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Scripps putting Rocky Mountain News up for sale
E.W. Scripps Co. says it's putting the Rocky Mountain News up for sale after losing $11 million on the Denver operation in the first nine months of the year. The newspaper announced the development on its Web site Thursday. Cincinnati-based Scripps has owned the News since 1926. Since 2001, the News has been in a joint operating agreement with The Denver Post, owned by Denver-based MediaNews Group Inc. Rich Boehne, president and CEO of Scripps, says the company's 50 percent share of the joint operating agreement's cash flow "is no longer enough to support the Rocky, leaving us with no choice but to seek an exit." The News was founded in 1859 and is Colorado's oldest newspaper. It has won four Pulitzer Prizes since 2000. Posted by: Fred 2008-12-05 |
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