Hearst strikes again?

While the Seattle PI might is on the chopping block thanks to the Hearst Corporation, it is apparently only the first of a series. The New York Times reports today that the SF Chronicle is next, with more or less the same rationale -- lack of profitability -- that Hearst gave for the PI.

Hearst said in its statement that The Chronicle, which it bought in 2000, lost $50 million last year and has lost money every year since 2001. Among the changes the company said it wants to see is “a significant reduction” in its union and nonunion employees.

So the paper’s basically never made any money since being bought, and now Hearst must suddenly either get out of its union contracts or shut it down. Interesting.

-posted by Paul