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Scripps: No Drop-Dead Date for 'Albuquerque Tribune'

Magazine article Editor & Publisher

Scripps: No Drop-Dead Date for 'Albuquerque Tribune'

Article excerpt

E.W. Scripps says it is still looking for a buyer for The Albuquerque Tribune, and that there is no deadline for a sale or closure of the enfeebled evening paper despite the collapse of a bid by local businessmen.

"At this point, we are still working through the process to find a buyer," Scripps spokesman Tim Stautberg said Monday. The New York investment banking firm Broadwater & Associates continues to work on the search for buyers, he added.

Scripps announced last Aug. 28 that it was putting the paper up for sale, and would close it if no buyer could be found. At the time, reports in the Tribune suggested the paper would be closed within two months if it were not sold.

Two New Mexican businessmen formed a consortium to bid on the paper. Doug Turner, CEO of the Albuquerque-based public relations and advertising firm D.W. Turner and Tom Carroll, its president, suggested in December that they were close to completing the deal.

"We have closed the investment pool, and we have raised the money," Carroll told The New Mexican of Santa Fe at the time. ""We are in the final negotiation sessions ... and I believe we have a deal."

But earlier this month, the two announced they had withdrawn their offer. …

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