Post Mortem For A Dead Newspaper04 Oct 2009
The company kept defining itself as a newspaper company, not a news organization (or, better yet, a community builder). Everything it did was based on how it would impact the paper edition. The focus was not on competing with web properties and services, but on the other major newspaper in town, the Denver Post.
Full text: Lessons from the Rocky Mountain News - Text and video of speech delivered at UC Berkeley Media Technology Summit at Google in Silicon Valley
Summed up: They saw the future in bits and pieces but did only that which preserved their print product. Delivering content to the internet was entirely an afterthought as was their ability to monetize their web content. Lack of understanding of the web and inability to attract the talent to develop its presence.