DENVER—Revenue for the entity that manages the joint operating agreement between The Denver Post and Rocky Mountain News slipped 11 percent in 2007, but the papers saw a 48 percent increase in earnings over 2006, according to regulatory filings.
An annual report filed with the Securities and Exchange Commission by The Post’s owner, ap Inc., showed the papers had an income of $27.4 million for 2007—up from $18.5 million in 2006. The papers earned $47.1 million in 2005.
The latest earnings benefited from cuts in operating expenses. Newsprint and ink expenses dropped 30 percent from nearly $79 million in 2006 to $55 million. Payroll and benefits costs dropped more than 12 percent from $131.5 million in 2006 to just under $115 million.
Denver-based MediaNews and Cincinnati-based E.W. Scripps Co., which owns the News, split income under the joint operating agreement managed by the Denver Newspaper Agency.
Revenue for the agency was down to $363 million in 2007 from nearly $409 million in 2006. Revenue in 2005 was $431 million.
