Maybe Now's Not A Great Time To Spend $95 Million On A New Printing Press - Henry Blodget

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Maybe Now's Not A Great Time To Spend $95 Million On A New Printing Press
Jun 22, 2009 06:12 PM UTC

Henry Blodget

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Via Silicon Alley Insider:

The Naples News Media building This August, E.W. Scripps (SSP) newspaper Naples Daily News will crank to life a new printing press and move into a new 186,000-square-foot office building. Total cost: $95 million.

Plans for the new building and press were formulated five years ago. Given the current state of decay in the newspaper industry one might reasonably question whether it was such a good idea to carry through with them.

If one does ask, however, and if one is an E.W. Scripps shareholder, one will probably get a helpless shrug from E.W. Scripps management.

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