— Photo by TJ Sullivan —
It looks like San Francisco could lose its only remaining mainstream daily newspaper.
LA Observed points to a report published Tuesday on the Chronicle Web site that details an announcement by The Hearst Corp. warning of possible closure.
From the story in the Chronicle:
In a posted statement, Hearst said if the savings cannot be accomplished "quickly" the company will seek a buyer, and if none comes forward, it will close the Chronicle. The Chronicle lost more than $50 million in 2008 and is on a pace to lose more than that this year, Hearst said.Read the rest of the story at the Chronicle Web site.
— TJ Sullivan in LA
* Cross posted at Know Newspapers
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