I’m sorry to say it, but my buddies in Ventura should be nervous. Scripps will stay in the newspaper business, but sell off some properties, according to this report.
The problem for the Ventura County Star is that it is in a slow-growth market, with a high cost of living (higher staff costs) and it is fairly isolated from other Scripp’s assets.
While I was there, I was an advocate of using some land Scripps owned there to build employee housing, which would have made a lot of economic sense. I believe that land has now been sold off.
But hey, they do have (or are soon getting — I’m not up to speed on this lately — a great new office building with a video studio.
Do you think the Scripps news service will survive?
You know, I’ve often wondered why newspapers in high cost of housing areas don’t build apartments for new employees with the provision that they had to find housing within a specified period.
It seems that it would make recruiting and the transition so much easier.
I guess “because it’s never been done?
“I guess because it’s never been done.”
That’s always the feeling I got.
There were also concerns — somewhat legitmate — that there would be increased liability … and all the issues that go with being a landlord. But, but … I think that stuff can be dealt with.