Hearst to close the ‘Chronicle’ in a matter of weeks unless a buyer is found
In the race to economic rock bottom, media division, San Francisco, CA is set to earn a dubious distinction—becoming the first major metropolitan area in the United States without a real daily paper. The Hearst Corp. has announced that it will close the San Francisco Chronicle in a matter of weeks, unless a buyer can be found, or expenses reduced dramatically enough to put the money-losing paper in the black. Last year, Hearst sold the city’s other daily, the Examiner, for $100 and it has since been transformed into a commuter freebie. And San Fran, pop. 800,000, is not alone. Papers in many of America’s largest cities are seeking bankruptcy protection and threatening closure.