Hearst says cuts needed or SF Chronicle may be closed (Dinosaur Media DeathWatch™)

Marketwatch.com ^ | February 24, 2009 | John Letzing

[abb]

The Hearst Corp. said Tuesday that unless the San Francisco Chronicle can undertake "critical" cost cutting measures including job cuts within weeks, the company will be forced to sell or close the newspaper. Hearst said the Chronicle lost more than $50 million last year and added that, "this year's losses to date are worse." The Chronicle has had major losses each year since 2001, Hearst said. The closely-held media company said cost reductions including an unspecified reduction in union and non-union employees are needed to restore the Chronicle to health.

[abb]

This just in!

[abb]

Gret big ole shout out to Grampa Dave!!

[eureka!]

Kewl. Anti-American rag it is.

[Oldeconomybuyer]

High fixed costs and a crappy product will cripple any company from SF newspapers to MoTown automakers.

[SampleMan]

Freepers need to set up a death watch at some of these papers.

[abb]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRLg48dqDGTU&refer=home
Hearst Plans to Sell or Close San Francisco Chronicle Newspaper

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/24/BUannounce.DTL&tsp=1
Hearst seeks changes at Chronicle

[Mad_Tom_Rackham]

Yet another liberal failure for the dust bin.

[abb]

See title line.

[unkus]

GOOD NEWS!

[Frantzie]

How will they get out all the DNC talking points and gay propaganda?

Charlie Crist and Lindsay Graham will be heartbroken.

[Drango]

pleASE, PLEase, pleAsE (DON’t teaSe mE)

[abb]

http://www.editorandpublisher.com/eandp/departments/business/article_display.jsp?vnu_content_id=1003944369
Washington Post Co. Keeps Dividend Unchanged

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003944528
Hearst Threatens to Close ‘San Fran Chronicle’ Without Big Layoffs

[bert]

The cancer must have metastasized quickly because I don’t recall the mentions of death earlier

[JeffChrz]

As I learned back in the 90s when I worked in Silicon Valley, the Chron had two sets of funny pages: the comics, and the letters to the editor.

[Uncle Hal]

I live in the Bay Area and I have been hearing for years that the Chronicle has been losing a million dollars a week for years. Since the first of the year they have dramatically reduced the size of the paper. Time will tell.

[Drango]

I hope the union strikes! I tried to scab there many, many years ago during the last strike.

[ConservativeMind]

Well, the ultimate cut is closing it, so here’s hoping that is what is done, as it is what they say they need.

I just want what is best for them.

[JLS]

I vote for closed.

[Carl LaFong]

I think it would be fun to run a newspaper !

[abb]

There was a story some months back about them losing $1 million per week, IIRC.

From their story today.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/24/BUannounce.DTL&tsp=1

“The Chronicle lost more than $50 million in 2008 and is on a pace to lose more than that this year, Hearst said.”