Hug a Journalist Day may have just passed, but we know a few journos who could really use a warm embrace. The Daily Planet‘s been reporting about their impending demise for a while, but this is the first time we’ve heard that the Bay Area’s largest and oldest newspaper may the next victim in the Invasion of the Newspaper Snatchers.
The Hearst Corporation, which owns the Chronicle–along with 15 other daily and 49 weekly newspapers–says the Chron lost over $50 million in 2008. The newspaper has suffered “major losses” since 2001, recently raised subscription and single copy fees and plans to make significant cuts to its staff.
Hearst said Tuesday that if the newspaper doesn’t curb losses “quickly,” the company will seek a buyer, and if none comes forward, it will be forced to close. Wow, the Bay Area without the Chron? That’s like LA without purse chihuahuas. So not hot.