Scripps sets deadline for bids for Rocky
DENVER The E.W. Scripps Co. has asked interested buyers to submit bids for the Rocky Mountain News by close of business Friday.Scripps spokesman Tim King says bids will be evaluated as quickly as possible, but there’s no specific timetable for making a decision.Scripps officials have said they may close Colorado’s oldest newspaper if no buyer is found, leaving The Denver Post as the only major newspaper in Denver.It’s unclear how many bids Scripps will have to consider.This month, a former newspaperman willing to buy two daily newspapers in Connecticut and three weeklies from Journal Register Co. emerged, but other newspapers including the Austin American-Statesman are still seeking buyers.The Seattle Post-Intelligencer also is for sale. Owners of both the P-I and the News have asked Broadwater & Associates of New York to help them find buyers.The News has about 230 editorial employees.Scripps announced Dec. 4 that it was seeking buyers for the News and its 50 percent stake interest in the Denver Newspaper Agency, which handles business operations for the newspaper and The Denver Post under a joint operating agreement. At the time, Scripps said losses at its flagship paper could reach $15 million for 2008, with advertising revenue failing to keep pace with editorial expenses.
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