newspaper demise

The Best of Times - The Worst of Times

San_Francisco_Chronicle_August_7,_1945.jpg

Just this past week the Hearst Corporation announced from New York that “in an effort to reverse the deepening operating losses of its San Francisco Chronicle, it is seeking significant near-term cost savings that would include deep cuts in both union and non-union staff.” In its 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. The company had announced January 9th that if a buyer is not found by March for one of its other 15 newspaper holdings, the Seattle Post-Intelligencer, it will close that paper, which has lost money since 2000.  read more »

Media Careers Crater

media.jpg

Being closer to the end than the beginning of my own very rewarding media career, I can sympathize with the thousands of younger aspiring journalists who are faced with a rapidly deteriorating job market that may not give them the chance to get in on the ground floor of such an exciting industry.

And seasoned veterans are not being spared from the economic tsunami washing over the media business. Long time local TV and radio news anchors and reporters are being unceremoniously shown the door in cities all across the country. Magazines and newspapers are also in free fall, with huge layoffs in editorial, operational and marketing divisions at some of the country’s biggest publications.  read more »

Newspapers Writing Their Own Obituaries

These past few days’ local and national newspapers have been busy writing obituaries….their own. Pages have been filled with news articles documenting the carnage. The Christian Science Monitor says that after a century, it will cease publication of its daily newspaper. To stave off its demise, the Star Ledger of Newark will slash its editorial staff by an astonishing 40%. Gannett, the nation’s largest paper, will cut 10% and the Los Angeles Times will shed another 75 newsroom workers.  read more »