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

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

[TenthAmendmentChampion]

Hearst makes decisions that are hard to understand. They closed Victoria magazine at a time when it had close to a million devoted subscribers. (It has since been reopened, hooray!). Meanwhile Ms magazine goes chugging along with less than 200K readers. Wha???

[TenthAmendmentChampion]

Yup. San Francisco runs the state of California. It might even run the US considering SanFranNan is in charge in the house. And by and large, the Chronicle runs San Francisco. Good riddance.

[abb]

It’s all about the advertising. If a lower circulation magazine or newspaper has a high-quality readership, it can make more money than one with a larger but less affluent audience. Advertisers will pay more to reach them. It’s the same with TV. That’s why CNBC is such a cash cow for NBC/U. Advertisers pay premium dollar to reach the viewers that watch.

[tubebender]

Didn't Hearst buy the Chomical for Millions and Millions just a few years ago and sell the Examiner to some Chinaman for a case of Hosin Sauce and some chop sticks. I actually think Hearst had to pay him to take it because of some anti trust action...

[MrEdd]

Couldn't happen to a moreford deserving paper.

[SanFranDan]

“Didn’t Hearst buy the Chomical for Millions and Millions just a few years ago and sell the Examiner to some Chinaman for a case of Hosin Sauce and some chop sticks. I actually think Hearst had to pay him to take it because of some anti trust action... “

Forgive me for laughing at this, but I just hate the Chronicle so very much!

[abb]

Yes. The original Hearst paper was the Examiner. Deal done back in ‘99. And remember that Mr. Sharon Stone (Phil Bronstein) was editor.

http://www.sfgate.com/cgi-bin/article.cgi?f=/e/a/1999/08/06/NEWS15750.dtl&hw=examiner&sn=007&sc=415

Hearst buys Chronicle
Examiner up for sale

[Marie2]

Oh no! Who will continue to print the list of Prop. 8 donors?????

[SampleMan]

I was thinking more along the lines of carrying a coffin through their lobby, while slowly beating a drum and playing a fife.

[abb]

http://online.wsj.com/article/SB123551803197064061.html?mod=testMod&mg=com-wsj

snip

The possible closure of the Chronicle, the 12th-largest daily in the country and Northern California’s largest daily paper, illustrates the quickening pace of decline in the newspaper industry. Advertising revenue is falling even more quickly than publishers can slash staff, stock dividends and other costs. Two newspaper publishers filled for bankruptcy protection last weekend, and few metropolitan dailies are on a healthy footing.

Observers have been waiting to see which major U.S. city will be the first to be without a daily newspaper, and San Francisco isn’t a surprising front-runner for the role. Unlike many major newspaper chains, Hearst has a healthy balance sheet, but the company said the Chronicle has posted significant losses since 2001, including a $50 million loss last year.

snip

Hearst may also close the Seattle Post-Intelligencer next month unless it can find a buyer. Hearst announced in January that it will close the Seattle paper or convert it to an online-only publication if a buyer can’t be found in two months.

[abb]

When the local Gannett rag (Monroe, LA News-Star) folds, I intend to pee on their parking lot.

[Liberty Wins]

Let’s buy it! I’ll chip in $l.50

[Signalman]

Savage is offering 100 Mill for it.

[Signalman]

Correction, he's offering 100 dollars for it.

[abb]

If I were Hearst I would jump on that offer. It’s worth no more than liquidation prices - land, buildings, scrap iron for the press, office furniture, etc.

[TenthAmendmentChampion]

Sure. I’m just happy it’s back... I hope it survives!

More good news:

---

http://cancelthebee.blogspot.com/2009/02/report-kansas-city-star-to-shut-down.html

Report: Kansas City Star to shut down several bureaus
A source is telling Bottom Line Commications the Kansas City Star plans to shut down several bureaus.

The Kansas City Star will likely eliminate its KCK, Northland and Eastern Jackson County Bureaus in its continuing effort to reduce costs, according to an anonymous source close to the situation.

There is no official word on the status of the Star employees in the impacted bureaus. At this point the Johnson County Bureau is reportedly not included in the bureau closings.

Several years ago the Star made a concerted effort to increase its presence in outlying areas and be the major source for suburban news. However, with the current sad state of newspapers, those plans are being dramatically scaled back.

“Some editors watched the suburban competitors like The Sun and Bradley publications like hawks and were obsessed with putting them out of business,” said the source. “I’m sure the Star wounded them but it looks like they will live longer than the Star.”

[RayChuang88]

I think because Hearst does have a healthy balance sheet they will try to keep the San Francisco Chronicle going as long as possible. The reason is simple: it's the only major newspaper that San Francisco has, and I actually like their redesign of the layout of the paper (despite the obvious Leftist slant). Alas, it's that Leftist slant that will end up killing the Chronicle, though.

[Anti-Christ is Hillary]

“SF Chronicle may be closed.”

YEA!!!!!!!!!!!

[Rodney Dangerfield]

This is the best news I’ve heard in ages.

SFGate is filled with nothing but left-wing bomb throwers.

Mark Morford, Carla Marinucci, Steve Garofoli, etc...

I truly hope these people end up homeless.

They are not journalists, they are DNC shills who attacked Bush for 8 years and Sarah Palin in the worst ways imaginable while swooning over Obama.

I’m going to email all of these hacks and wish them well and tell them to go to hell.

[Rodney Dangerfield]

Maybe Rush will buy SFGate and return it to respectability.