The daily newspaper may be shut down due to monetary losses.
WiredPRNews.com – The largest newspaper in Northern California may close down after more than a century in circulation. As reported by Reuters, the Chronicle’s owner Hearst Communications is set to cut a number of jobs at the paper and will possibly be forced to shut it down if costs are not decreased in upcoming weeks.
Hearst Corp. Chief Executive Frank Bennack Jr. is quoted as stating, “Given the losses the Chronicle continues to sustain, the time to implement these changes cannot be long… Survival is the outcome we all want to achieve. But without the specific changes we are seeking across the entire Chronicle organization, we will have no choice but to quickly seek a buyer for the Chronicle or, should a buyer not be found, to shut the newspaper down.”
The San Francisco Chronicle was founded in 1865.