SAN ANTONIO, Texas (Reuters) – Fort Collin’s newspapers, which have been closed for more than two years because of a funding shortfall, will close after more than a decade of closure, the newspaper owners said on Monday.
The newspaper, which has been running under the Fort Collings name since its inception in 1883, has been on the decline in recent years.
It reported $2.5 million in losses in the third quarter, down from $8.6 million a year earlier.
In a statement, the newspapers owners said they had reached an agreement to save the newspaper by consolidating its reporting and reporting on social issues, with the help of the state and the Federal Communications Commission.
“It has been a challenging year and we have come to a mutually beneficial agreement to close Fort Collis newspaper,” the Fort Collins, Colorado-based newspaper owners wrote in a statement.
“As part of our restructuring, Fort Collins will be a nonprofit non-profit, and Fort Collins’ staff will continue to work in Fort Collins under the supervision of our former owners.
Fort Collins is also seeking to purchase the Fort Jefferson newspaper and the Fort Clements Daily Times,” they added.
The Fort Collins Gazette has struggled financially since its last edition in 2007.
In the latest quarter, the paper reported a $2 million loss.
(Reporting by Michelle Martin; Editing by Daniel Wallis and Grant McCool)