July 30, 2010  Print Email | San Fran Chronicle may follow Inquirer, Register into doodoo
This is bad news all round
Posted by Gutar Wotch at 12:00 PM GMT on Feb 25, 2009 | THE NEWS that the Philadelphia Inquirer and the Journal Register are entering Chapter 11 is compounded by some more bad news for old style journalists.
According to a report from Associated Press, the mighty Hearst group will either sell or close the San Francisco Chronicle, which is northern California’s biggest newspaper with a daily circulation of 339,430.
The report quoted the publisher as saying that it has to cut costs quickly – that means the payroll is already being slashed. The hard decisions to come may happen in a matter of weeks.
The SF Chronicle was bought by Hearst in late 2000 for an estimated $660 million, just in time for the dot.com bubble to burst, having a negative effect on advertising from the Valley.
The CEO of Philadelphia Newspapers has decided not to take a $232,000 raise while it negotiates itself through Chapter 11.
Every print newspaper in the world faces problems caused by the rise and rise of the Internet. In India, which has a comparatively healthy print market, there is a blinkered attitude to online journalism, but we’re sure as chapattis are chapattis the same phenomenon will occur there.
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