Casco Bay Weekly Shuttered After 14 Years

november 22, 2002  10:27 am
"I don't want to get in the Guinness Book of World Records for money buried in a small-market weekly newspaper," explains CBW owner Dodge Morgan after closing the paper he bought in 1990. "The losses continue and the actuarial tables plod on," the 71-year-old Morgan tells the Portland Press Herald. According to Morgan, CBW's ad revenue dropped 20 percent after the Portland Phoenix arrived in 1999, and the paper continued to lose $5,000 a week even after he cut the editorial budget earlier this year. Staff writer Theresa Flaherty says that Morgan -- who lost over $2 million publishing CBW -- provided the paper's 14 employees with a "generous" severance package.