Denver Post's decision to sell stake in Colorado Rockies not sign of financial turmoil, CEO says

Denver Post's decision to sell stake in Colorado Rockies not sign of financial turmoil, CEO says

By Michael Roberts Wed., Nov. 14 2012 at 9:46 AM

Tulo at bat.

Last week, the Denver Post announced a desire to sell its 7.3 percent stake in the Colorado Rockies -- an asset acquired due to the Rocky Mountain News's 2009 closure. A knowledgeable source tells Westword this move was motivated by dire financial problems at the Post -- ones serious enough that they could lead to bankruptcy. But Post CEO Ed Moss denies this assertion while highlighting what he sees as progress in improving the paper's economics.

"There couldn't be anything further from the truth," Moss says about Chapter 11 fears -- concerns likely stoked by the September bankruptcy filing by the Journal Register Company, a sister firm of MediaNews Group, the Post's owner. "The attempt to potentially sell our stake really has everything to do with what I stated in our press release, and what John Paton" -- MediaNews Group's CEO, as well as the Journal Register Company's top dog -- "has been talking about, which is that we're focusing on our core business. And we're actually making great strides at improving our position overall."

Ed Moss.

Moss, who came to the Post after serving as the publisher and president of the San Diego Union-Tribune from 2009 to 2011, points to the figures contained in the latest Audit Bureau of Circulations report, made public in late October. The complete press release on that topic is below, but highlights include a 19 percent pageview increase to the paper's website, contributing to a huge total of 72 million, plus a 32 percent boost in mobile pageviews and hefty rises in readership among tablet users and visitors to the Post's digital replica edition. Circulation as a whole is also up incrementally, thanks in part to new ABC accounting methods that pair some of those digital figures with ones related to print copies.

"We've stabilized our print business, we're showing tremendous growth in our digital business, and we're seeing audience growth in the combination of the digital and print business," Moss notes. "If you look at our total audience, we're number ten in the entire U.S., and we're fourth in the nation when you look at newspaper publications."

In addition, Moss goes on, "we're making great strides on the revenue side" -- the rub for newspapers, which have more readers than ever, but have found it challenging to monetize all those eyeballs.

Continue to read more of our interview with Denver Post CEO Ed Moss.

Tags:

Colorado Rockies, Denver Post, Ed Moss, John Paton, Journal Register Company, MediaNews Group

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C.J.

1 Like

Whistling past the graveyard. And that picture of Moss screams, "Hey, come over here, I've got this great 1976 Pinto to sell you. Runs like new!"

Moss and the other clowns running the Post can squish and massage and tweak and adjust and manipulate the numbers all they want into their favor. Kind of like the Rockies shouting from the purple-lined seats at 20th and Blake, "Look! We won 64 games this year! Progress!"

The fact is, the Post has been bleeding money left, right and center, certainly moreso since it put the Rocky six feet under nearly four years ago. It thought it would own the media market with its new-found monopoly. Whoops. Yup, those buyouts, severance packages, eliminating of copy editors, having writers write headlines, not replacing columnists and staffers who leave ... yup, things are just fine financially at 101 West Colfax, Moss will have you believe. And we're supposed to believe anything a Post exec says in a public statement/interview -- because Post execs ALWAYS have told the truth in public statements, right?

Please. It's clear the attempt to sell something that has only gone up in value -- which no other piece of Post/MediaNews property can claim -- since it was gifted it -- and will only continue to go up in value -- reeks of desperation for an influx of cash. Stat!

The favorable terms Uncle Dean got in his previous bankruptcy only softened the blow and left the same goofballs in charge -- to continue making the same mistakes because those on the 11th floor are still living in the 1980s business model.

Send in the clowns.

Juan_Leg topcommenter

The hiring of W. Weiss as head coach shows CLEARLY , the teams attempt to

sell seats , regardless of record . Throw in Dante !!! Plan some type of hoopla for each & every home game . We already seat on average OVER 30,00 for a 100 LOSS TEAM !!!

I believe they are making it more appealing to a real buyer . Hopefully whoever this may be , they CARE about WINNING !!!!!!!