Albuquerque Tribune for sale, possibly closing

Hadn't seen this posted.... this went out to Scripps Howard employees today.
Obviously, thoughts and prayers for those at the Trib, a fine afternoon newspaper.
Those of us who have been through similar situations before (and are going through them) certainly sympathize.


Dear Colleagues,



I wanted to bring your attention to a press release (attached to this note) that the company has issued regarding its newspaper in Albuquerque.



The company announced today that it has retained the services of the investment banking firm, Broadwater & Associates, to seek a buyer for The Albuquerque Tribune. Further, in meetings with The Tribune’s 45 employees, Scripps announced its intentions to close the newspaper if a qualified buyer is not found within a reasonable period of time.



Naturally, we would prefer not to sell or close a newspaper, especially one with such a rich tradition of journalistic excellence and community service as The Tribune. That said, however, it has become evident that it would be wiser for the company to concentrate its resources on its newspapers that are in stronger competitive positions.



As great as The Tribune is, consumer demand for the afternoon newspaper in the Albuquerque market has dwindled to a level that makes it difficult for the company to justify its continued financial support.



As the junior partner in a 74-year-old joint operating agreement, The Tribune’s paid circulation has dipped below 11,000 copies this year. Like many afternoon newspapers before it, and despite the best efforts of its award-winning and dedicated editorial staff, The Tribune has become a victim of the changing habits of media consumers.



Please join me in keeping our friends and colleagues at The Tribune in your thoughts and prayers as we work with them through this period of uncertainty and transition in their lives.



Sincerely,



Ken

 

Re: Albuquerque Tribune.

What about the JOA? Doesn't expire for a while, can they just disband it like that?

The ABQ Trib is the best newspaper nobody is subscribing to. They have a phenomenal staff, from editors to photogs.

 

Re: Albuquerque Tribune.

Sounds like the Birmingham Post-Herald. (Sorry, bro.)

Or the Cincinnati Post.

Is the Rocky Mountain News far behind?

Seems like Scripps is yanking out as much cash as it can.

 

Re: Albuquerque Tribune.

Well, at least at the Post and with this move, they're giving some legit notice.
Those at the Post-Herald got 1 day.
That said, I do feel terrible for those at the Tribune. It's a well-respected paper that, unfortunately, is losing a cultural battle - not one that it fights with ink and paper.

 

Re: Albuquerque Tribune.

Have the last Scripps grandchildren died yet? I thought they couldn't sell off the print properties till that happened.

 

Re: Albuquerque Tribune.

Does anyone really expect a PM with a circulation roughly that of Elizabeth City, N.C. to be saved? I'm sure they do great work there, but investing in a small afternoon paper in 2007 doesn't sound very sound to me.

 

Re: Albuquerque Tribune.

Usually JOAs protect the afternoon paper a great deal. In the reworked York, Pa., JOA, there was a guaranteed seven-figure profit for The York Dispatch's owner -- who may be the same as the York Daily Record/Sunday News' owner given how Singleton reworked it, but that's another conversation for another time.

 

Re: Albuquerque Tribune.

Well, the JOA will be dead, according to the Tribune's Web site.

"The Trib is for sale without benefit of the JOA, which Scripps and Journal Publishing Co. intend to terminate."

 

Re: Albuquerque Tribune.

Fixed [stillbitterPostHeraldrefugee]

 

Uh, no. Not at all.

 

Dear Ken
I hope you die a long, painful death, forced to watch your Home and Garden TV dreck the whole while. Die, bastard, die. (Did I mention Die?)
Your colleague,
Killick