• Editor & Publisher, Wednesday, February 25, 2009 9:34 AM

The San Francisco Chronicle will be sold or closed unless a "significant reduction number of unionized and non-union employees" can be let go quickly, says parent company Hearst. Cost savings must be accomplished within weeks to keep the company going. The number of cuts is unspecified.

The paper has been on a losing streak since 2001. Hearst says the Chronicle lost more than $50 million last year, and this year's losses are worse. This week's layoff threat seems primarily directed at the paper's unions. "It is essential that our management and the local union leadership work together to bring the cost of producing the Chronicle into line with available revenue," says Hearst.

Several other big metro dailies are presently up for sale, including the Rocky Mountain News in Denver and the San Diego Union-Tribune and The Miami Herald. None has found a buyer.

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