Rocky Mountain News closing 2/27/2009 after 150 yearsSubmitted by SteveMT on Thu, 02/26/2009 - 17:00
The First Amendment has really meant: owning your own newspaper. No one wants to buy this Denver newspaper. Why?
DENVER (AP) -- The Rocky Mountain News will publish its last edition Friday.
Owner E.W. Scripps Co. announced on the newspaper's Web site Thursday that its search for a buyer for the paper was unsuccessful.
"Today the Rocky Mountain News, long the leading voice in Denver, becomes a victim of changing times in our industry and huge economic challenges," Scripps CEO Rich Boehne said.
Scripps said the paper lost $16 million last year.
Financial problems are widespread in the newspaper industry as the economy has deteriorated, ad revenue has tumbled, readers have gravitated toward the Internet and advertisers have followed them.
Four owners of 33 U.S. daily newspapers have sought Chapter 11 bankruptcy protection in the past 2 1/2 months. A number of other papers are up for sale.