The Rocky Mountain News, Colorado's oldest newspaper and a Denver fixture since 1859, will publish its last edition today, and industry analysts said it won't be the last to be pulled under by financial woes.
The Rocky Mountain News, Colorado's oldest newspaper and a Denver fixture since 1859, will publish its last edition today, and industry analysts said it won't be the last to be pulled under by financial woes.
E.W. Scripps officials said Thursday that closing the Rocky, which has won four Pulitzer Prizes in the past decade, leaves Denver, like most U.S. cities, a one-newspaper town. The officials said the newspaper lost $16 million last year and the company was unable to find a buyer.
These are dark days for the newspaper business. Hearst threatened this week to close the San Francisco Chronicle unless major budget cuts are imposed or a buyer is found, and is prepared to close the Seattle Post-Intelligencer if it cannot be sold before April. Gannett is looking for a buyer for the Tucson Citizen in Arizona.
Four owners of 33 U.S. daily newspapers have sought Chapter 11 bankruptcy protection in the past 2 ½ months. This past weekend, there were separate bankruptcy filings by New Haven (Conn.) Register publisher Journal Register Co. and by the owners of The Philadelphia Inquirer and the Philadelphia Daily News.
http://seattletimes.nwsource.com/html/businesstechnology/2008791505_rocky27.html
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