Hearst Threatens to Shut Down Chronicle
Posted on February 24, 2009
Filed Under Uncategorized |
Lose $50m a year and still not profitable… sounds more like a startup than a 143 year old newspaper.
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.
More on this topic
(What's this?)
Shadow Inventory
(Healdsburg Housing Bubble, 4/8/09)
Imagine a World Without Newspapers
(, 3/3/09)
California Dream Fading Fast
(, 2/8/09)
This Time ISN'T Different
(George Washington's Blog, 2/20/09)
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About
My name is Jeff Nolan and I write Venture Chronicles. I am the VP of Product Marketing for Get Satisfaction and I write about a range of topics that interest me, including public policy, technology, entrepreneurship, finance, and global issues.
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