The Rocky Mountain News, Denver’s newspaper for the city’s entire history, will shut down Friday after nearly 150 years of operation. Rich Boehne, chief executive officer of Scripps, the paper’s parent company, said in a prepared statement, “The Rocky is one of America’s very best examples of what local news organizations need to be in the future. Unfortunately, the partnership’s business model is locked in the past.”

The italics are mine, because Boehne’s opinion ties in exactly with mine, as I posted yesterday in The Peter Principle is destroying our newspapers.

Here’s the whole story from the Associated Press.