Today Hearst publishing announced that it may sell, or completely close the San Francisco Chronicle, which has been losing money since 2001. The Chronicle has lost $50 million in 2008, and if the paper can not pare costs within weeks via job-cuts and other methods, Heart officials said they would have no choice but to seek a buyer, and if a buyer could not be found, they would shut the newspaper down.
Is there any appetite for a company that lost $50 million last year in a dying industry in a rapidly deteriorating economy? Where are all the LBO funds?
[SF Chronicle][Hearst][San Francisco][Economy]
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