Posted on 02/25/2009 12:41:41 PM PST by rabscuttle385
SAN FRANCISCO (AP) -- The San Francisco Chronicle joined the lengthening list of imperiled newspapers Tuesday as its owner set out to purge the payroll and slash other expenses in a last-ditch effort to reverse years of heavy losses.
If it can't reduce expenses dramatically within the next few weeks, the Hearst Corp. said it will close or sell the Chronicle, northern California's largest newspaper with a paid weekday circulation of 339,430.
Hearst didn't specify a savings target nor a deadline for wringing out the expenses. A Hearst spokesman didn't immediately respond to messages Tuesday.
But management made it clear that the cost-cutting will require a significant number of layoffs.
"Our current situation dictates that we accomplish these cost savings quickly," Chronicle Publisher Frank Vega wrote in a memo to the staff. "Business as usual is no longer an option."
(Excerpt) Read more at biz.yahoo.com ...
With all due respect, th SF Chrolicle was a terrific paper when it was owned by the Theriot family. Their columnist lineup included Herb Caen, Charles McCabe, Ron Fimrite, Stan Delaplane, Art Hoppe and many others. This formerly great paper was destroyed when Hearst took it over and installed its own editorial staff. End of paper.
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