Denver PR Blog


If the Rocky Survives, Will the Post Fold?
January 28, 2009, 10:20 am
Filed under: Denver Post, Rocky Mountain News

And now it gets interesting. 

David Milstead at the Rocky Mountain News reports today that his paper’s parent company Scripps has accused The Denver Post and its publisher MediaNews Group of improperly borrowing “$13 million from their jointly owned operating agency to cover The Post’s newsroom payroll.” Rumors of MediaNews Group’s financial shaky footing have been around for months, and Scripps alleges MediaNews was forced to resort to the improper “loan” after the JOA’s banks tightened credit.

So now we know why Scripps has been silent since it announced its mid-January deadline for finding a buyer for the Rocky or shutting it down. And we also know why MediaNews Goup’s Dean Singleton has been so desperate in his efforts to ensure that the Rocky disappears. If the Rocky were to find a buyer, it might not be long before the Denver Post went under.

Update: Michael Roberts at Westword also blogged about Milstead’s article. Definitely worth reading.

About these ads

1 Comment so far
Leave a comment

Hatfields and the McCoys.

Comment by Bjorn Olafson




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



Follow

Get every new post delivered to your Inbox.

Join 6,496 other followers

%d bloggers like this: