Today Denver joins the ever-increasing list of cities with only one newspaper: the Rocky Mountain News has published its last issue. But Editor John Temple hopes its readers will take pride in the final edition and its 52-page wraparound section, noting “This is our last shot at this. This morning (someone) said it’s like playing music at your own funeral. It’s an opportunity to make really sweet sounds or blow it. I’d like to go out really proud.” The paper’s very existence was in limbo for the past three months and operated at a $16 million loss. The only potential buyer was scared away “after realizing that it would cost as much as $100 million just to stay in the game.” The company considered going online-only, but even then ad revenue wouldn’t cover the costs.The paper goes on to report:
In the past decade, the Rocky has won four Pulitzer Prizes, more than all but a handful of American papers. Its sports section was named one of the 10 best in the nation this week. Its business section was cited by the Society of American Business Editors and Writers as one of the best in the country last year. And its photo staff is regularly listed among the best in the nation when the top 10 photo newspapers are judged.
Yet for for all its accolades, The Rocky Mountain News suffered the same one-two punch that threatens many newspapers; namely, a loss of advertising revenue and a readership that now gets most of its news online. If newspapers are to survive at all, they will have to consider new revenue streams and business models. We’d recommend they take a look at Jeff Jarvis’s suggestions and Kachingle before they too go the way of the telegram.
[via Business Insider]
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