Thursday, February 19, 2009

Scripps to say more on Rocky fate in coming weeks

The E.W. Scripps Co. expects to say more about its efforts to sell the Rocky Mountain News by the end of March, President and CEO Rich Boehne said Thursday.
Scripps put Colorado's oldest newspaper up for sale Dec. 4, along with its 50 percent stake in the agency that handles business operations for the News and its rival newspaper, The Denver Post, under a joint operating agreement. Bidding for the News closed in mid-January, but Scripps hasn't said how many offers it received.

When Scripps announced the sale, it said it had lost about $11 million on the business through three quarters. Its 2008 earnings report released Thursday said the News lost $16 million over the year.

Boehne left open the possibility that the newspaper could be closed if no buyer is found.

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