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Scripps chief executive Rich Boehne said the paper had become "victim of changing times in our industry and huge economic challenges."
"The Rocky is one of America’s very best examples of what local news organizations need to be in the future. Unfortunately, the partnership’s business model is locked in the past," Boehne said.
US newspapers have struggled to adjust to the Internet age, a period which has seen dailies suffer a collapse in traditional revenue streams such as classified advertising with the growth of websites such as craigslist.org.
Founded in 1859 by William Byers, news of the Rocky Mountain News' closure comes just two months shy of its 150th anniversary. The paper has won four Pulitzer Prizes in the past decade alone.
The Rocky Mountain News entered a joint operating agreement with The Denver Post which allowed the papers to share all business services in order to maintain two distinct editorial voices in the region.
However Scripps announced in December the Rocky Mountain News was up for sale, saying the paper had suffered losses of 16 million dollars in 2008.
Scripps said a potential buyer emerged in January but talks stalled because the interested party was "unable to present a viable plan."
The announcement of The Rocky Mountain News' closure comes just days after publishing group Hearst Corp said it may shutter the beloved San Francisco Chronicle daily if staff did not agree to "significant" job cuts.
"The Rocky is one of America’s very best examples of what local news organizations need to be in the future. Unfortunately, the partnership’s business model is locked in the past," Boehne said.
US newspapers have struggled to adjust to the Internet age, a period which has seen dailies suffer a collapse in traditional revenue streams such as classified advertising with the growth of websites such as craigslist.org.
Founded in 1859 by William Byers, news of the Rocky Mountain News' closure comes just two months shy of its 150th anniversary. The paper has won four Pulitzer Prizes in the past decade alone.
The Rocky Mountain News entered a joint operating agreement with The Denver Post which allowed the papers to share all business services in order to maintain two distinct editorial voices in the region.
However Scripps announced in December the Rocky Mountain News was up for sale, saying the paper had suffered losses of 16 million dollars in 2008.
Scripps said a potential buyer emerged in January but talks stalled because the interested party was "unable to present a viable plan."
The announcement of The Rocky Mountain News' closure comes just days after publishing group Hearst Corp said it may shutter the beloved San Francisco Chronicle daily if staff did not agree to "significant" job cuts.
