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Tuesday, February 24, 2009

 

Last Rites for Frisco's Last Paper?


— Photo by TJ Sullivan —


It looks like San Francisco could lose its only remaining mainstream daily newspaper.

LA Observed points to a report published Tuesday on the Chronicle Web site that details an announcement by The Hearst Corp. warning of possible closure.

From the story in the Chronicle:
In a posted statement, Hearst said if the savings cannot be accomplished "quickly" the company will seek a buyer, and if none comes forward, it will close the Chronicle. The Chronicle lost more than $50 million in 2008 and is on a pace to lose more than that this year, Hearst said.
Read the rest of the story at the Chronicle Web site.

— TJ Sullivan in LA

* Cross posted at Know Newspapers

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