Hearst threatens to end San Francisco Chronicle
The US newspaper market is in a deep crisis: now the San Francisco Chronicle is facing the end. If cuts such as job cuts are not enough, the parent company Hearst wants to sell the twelfth-largest daily newspaper in the US or close it down.
The US newspaper market is in a deep crisis: now the San Francisco Chronicle is facing the end. If cuts such as job cuts are not enough, the parent company Hearst wants to sell the twelfth-largest daily newspaper in the US or close it down.
According to the industry, San Francisco would be the first US metropolis to completely lose its leading daily newspaper during the crisis. The paper employs around 1500 people. Daily circulation recently stood at 340,000 copies - a drop of around a third since 2001.
In recent years, the Chronicle has always been in the red, with a loss of around 50 million dollars (39 million euros) in 2008 alone, Hearst announced on Tuesday, as reported by SDA.
Four major US newspaper publishers have filed for bankruptcy since the end of 2008. The most spectacular case in December was the Tribune Company, which publishes the Los Angeles Times, among others.
According to the industry, San Francisco would be the first US metropolis to completely lose its leading daily newspaper during the crisis. The paper employs around 1500 people. Daily circulation recently stood at 340,000 copies - a drop of around a third since 2001.
In recent years, the Chronicle has always been in the red, with a loss of around 50 million dollars (39 million euros) in 2008 alone, Hearst announced on Tuesday, as reported by SDA.
Four major US newspaper publishers have filed for bankruptcy since the end of 2008. The most spectacular case in December was the Tribune Company, which publishes the Los Angeles Times, among others.
