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SF Chronicle slashing staff, possibly closing

Discussion in 'Journalism topics only' started by ArnoldBabar, Feb 24, 2009.

  1. ArnoldBabar

    ArnoldBabar Active Member

    "Hearst Corporation announced today that its San Francisco Chronicle newspaper is undertaking critical cost-saving measures including a significant reduction in the number of its unionized and nonunion employees. If these savings cannot be accomplished within weeks, Hearst said, the Company will be forced to sell or close the newspaper.

    Hearst said that the Chronicle lost more than $50 million last year and that this year’s losses to date are worse."
  2. Tucsondriver

    Tucsondriver Member

    Pretty sad. Here's the link:
  3. DanOregon

    DanOregon Well-Known Member

    I find it amazing that consolidation in the industry in the Bay hasn't kept ahead of the industry downturn in the Bay Area.
  4. ArnoldBabar

    ArnoldBabar Active Member

    Guess after what Hearst did in Seattle, the SF unions have to take seriously their threats to close. And the P-I was only losing $14 million a year, not $50 million.
  5. thegrifter

    thegrifter Member

    I'm sorry, but I just don't think there's any way in hell the Chronicle will close its doors anytime soon.
  6. MileHigh

    MileHigh Moderator Staff Member

    $50 million a year is a big pill to swallow.
  7. ArnoldBabar

    ArnoldBabar Active Member

    If they're really losing that much money, why would they hold onto a property in an industry that has shown absolutely no indications it will ever return to profitability, much less anytime soon?

    Hearst is a business. Trust me, I learned it the hard way.
  8. Mizzougrad96

    Mizzougrad96 Active Member

    Is the Examiner still around?
  9. At this rate, someone should start a new Web site -- formersportsjournalists.com
  10. Some Guy

    Some Guy Active Member

    It's pretty fucking hard to blow $50 million a year, even in this economy. You pretty much have to set out with that as your goal.

  11. Editude

    Editude Active Member

    This Chron (unlike Hearst's Houston Chron) has been losing money for years. Hearst owned the Examiner, bought the Chron (taking on a ton of debt) and let the Examiner name shift to a crazy family-run gig then Anschutz's free model. The Bay Area is the center of the unwinnable straddle between old and new media with a traditional publishing model.
  12. micke77

    micke77 Member

    I will believe it when I see it, this news of the Chronicle possibly closing down.
    Still, just the fact that it's being mentioned as a possibility is scary and a real downer.
    BostonSouthPav.....great line: "formersportsjournalists.com"....ain't dat da truth?
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