Earnings Rise for Denver Papers -- Due to Cuts
Revenue for the entity that manages the joint operating agreement between The Denver Post and Rocky Mountain News slipped eleven percent in 2007 -- but the papers saw a 48% increase in earnings over 2006 due to cost cuts.
That's according to documents filed with the Securities and Exchange Commission by The Post's owner, MediaNews Group Inc.
MediaNews and E.W. Scripps Co., which owns the News, split income under a joint operating agreement managed by the Denver Newspaper Agency.
DNA reported earnings of $27.4 million for 2007 -- up from $18.5 million in 2006 -- as expenses for payroll and benefits, newsprint and ink dropped.
Revenue was $363 million in 2007, down from nearly $409 million in 2006.
From Editor and Publisher
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