I never thought I’d see a headline like the one below. The Chronicle? Herb Caen’s old paper? This, coupled with earlier musings about dying papers and the recent plunge of the New York Times’ stock price to sub-$4 territory, makes me feel like a stranger in an increasingly strange land.
Hearst says Chronicle could close
San Francisco Business Times
In a statement, Hearst said if the cuts aren’t completed quickly, it will be forced to sell the paper. If no buyer can be found, it will close the paper, Hearst said in a statement posted on its web site.
The paper lost $50 million in 2008 and, by some estimates, close to that much every year back to 2001. Hearst bought the paper in 2000.