When someone tries to unload a house in need of serious repair, it’s not a money pit, it’s a “handyman’s dream.” Now E.W. Scripps Co. is putting its own twist on that selling point.
The newspaper publisher and cable TV broadcaster said on Tuesday that it is looking for a buyer for its afternoon paper in New Mexico. The Albuquerque Tribune has an average paid daily circulation of about 11,000, down from some 42,000 two decades ago. Not only that, it’s an afternoon daily, the kind of paper that’s been getting clobbered since World War II.
So who would want such a vintage property? Scripps doesn’t know yet, but made clear in the first paragraph of its press release that it will seek only “qualified buyers.”
At first, we thought that meant someone who’s into retro chic fashions, or someone who knows the secret formula to manufacture newspaper-blues repellent. Actually, a Scripps spokesman explained, that this means someone who not only names the right price, but wins the approval of the U.S. Justice Dept. The paper runs under a joint operating agreement with a morning daily in Albuquerque, and the agreement doesn’t expire until 2022. So whoever buys the paper needs to please Uncle Sam as well as Uncle Scripps.


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