July 28, 2015
SAN FRANCISCO (AP) - The San Francisco Chronicle is joining an expanding list of newspapers taking dramatic steps to try to survive.
The Hearst Corp. says it will close or sell the Chronicle if it can't cut expenses within the next few weeks.
Hearst didn't specify a savings target or a deadline for wringing out the expenses, but management made it clear that widespread layoffs will be part of a cost-cutting plan.
Losses at the paper have been piling up despite previous job cuts and other austerity measures.
The Chronicle is also feeling the effects of the 14-month-old recession, coupled with more advertising options on the Internet.
Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.