Is This The End of Newspapers?

 

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.

 

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Business News - Local News  

Hearst says Chronicle could close

San Francisco Business Times

Hearst Corp., the owner of the San Francisco Chronicle, is seeking major cuts to both union and non-union staff at the newspaper following years of staggering losses.

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.

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