We May be Saying Goodbye to the SF Chronicle
It looks like Hearst is trying to accelerate their cost savings measures and as a result, may shut down the San Francisco Chronicle. It has been reported by Reuters that the SF Chronicle lost $50 million dollars last year and their losses to date appear to be even worse.
Hearst claims that it will try to find a buyer before making the drastic move to shut now the newspaper that employs 275 people, but the publishing group recognizes that with the losses it has reported, it must make a decision soon.
It is surprising that Hearst is not looking at creating an online only version of the paper. This would allow them to still have a presence in the marketplace, while cutting costs tremendously.
Note; I was trying to reference the statement made by the company regarding the potential shut down in this post, but the link on the Hearst Corporate site doesn’t seem to be working ….
