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|| SportsShooter.com: Member Message Board
Rocky Mountain News for Sale
Jason Palmer, Photographer
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Wichita Falls | TX | USA | Posted: 2:38 PM on 12.04.08 |
->> The Scripps company just announced that the Rocky Mountain News (their flagship paper) and their 50% stake in the Denver Newspaper Agency is for sale.
It was only a few weeks ago that Scripps laid off 400 company wide... now this.
www.rockymountainnews.com |
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Walter Calahan, Photographer
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Westminster | MD | USA | Posted: 3:42 PM on 12.04.08 |
->> They've selling news about the Rocky Mountains for years.
If Scripps doesn't want their flagship, better another company takes over. |
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Craig Fritz, Photographer
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Algodones | NM | USA | Posted: 5:33 PM on 12.04.08 |
| ->> Buy... when was the last time you heard of a paper being bought? Look at Scripp's record with JOA papers, Albuquerque, Cincinnati and Birmingham come to mind. All closed not sold. Though that is what they must say to appease the Dept. of Justice (they oversee JOA's). I'm not saying this to be mean, just know from experience not to trust anything that comes from Scripps Execs. |
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Rafael Agustin Delgado, Student/Intern, Photographer
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Pasadena / Fullerton | Ca | USA | Posted: 6:14 PM on 12.04.08 |
| ->> I wish John Denver was present to write a song about this situation. |
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Michael Fischer, Photographer
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Spencer | Ia | USA | Posted: 8:53 PM on 12.04.08 |
->> This may not be bad... if fact this may be good. I am not alone in predicting that at some point, publically traded companies will ditch their newspaper/media investments.
*IF* they ditch them cheap enough, the new owners will be able to get a decent ROI without continuing to cut staff. The economy is bad, the industry is rock bottom. The old Wall Street motto was "buy straw hats in the winter..".
This may be a opportunity. I certainly hope so. If they close it, they get nada...and they know this. Stay tuned. |
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Robert Hanashiro, Photographer
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Los Angeles | CA | | Posted: 11:07 PM on 12.04.08 |
->> The San Diego Union-Tribune, the "flagship" of the Copley newspaper chain, has been up for sale for months.
There have been reports of several organizations "kicking the tires" (like Singleton and Zell of all people!)...but so far no buyer.
The O.C. Register, the "flagship" of the Freedom chain, I also believe was supposedly for sale this year (again Singleton rumored to have looked it over).
These two papers are in areas with millions of residents...and in the case of the U-T the second largest city in California.
Just amazing...and disheartening... |
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Joe Cavaretta, Photographer
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Ft Lauderdale | FL | USA | Posted: 11:37 PM on 12.04.08 |
->> Make no mistake, this is no "sale." This was the last newspaper war in the country and Scripps Coward is throwing in the towel just like they did in Albuquerque, El Paso, Birmingham, and Cincinnati.
What a great photo staff- Janet Reeves and her folks have been some of the best in the country for years- and in being so elevated BOTH newspapers to some of the best, photo-wise. In the end, good clean, honest competition makes everybody better. |
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Robert Hanashiro, Photographer
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Los Angeles | CA | | Posted: 2:27 AM on 12.05.08 |
->> http://newsosaur.blogspot.com/2008/12/outlook-is-rocky-for-rocky.html
"Given the circumstances, the only logical buyer for the Rocky is the Post, which is owned by MediaNews Group. Inasmuch as MediaNews already publishes one newspaper in Denver and doesn’t need any more operating losses, the only reason Media News would buy the Rocky is to shut it down to save the costs of producing it.
In buying the Rocky, MediaNews would have more to gain than any other buyer, because the purchase would give it unrivaled control of the market. Thus, it could afford to pay $1 more than any other prospective buyer and still come out ahead." |
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John Bowersmith, Photographer
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Lubbock | Tx | USA | Posted: 3:07 AM on 12.05.08 |
| ->> I'm with Craig on this one. He just went through the Scripps "sale process" this year. |
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