By: Staff reports
Hearst Monitored Closely By DOJ
Today is the last day the Hearst Corp. will accept bids from potential buyers of
the 112-year-old afternoon daily San Francisco Examiner.
An Examiner spokeswoman said bids will be accepted until 5 p.m. Eastern Standard
Time. If no offers are made, it is widely expected that Hearst will close the
Examiner and merge the staff with the morning Chronicle, which Hearst bought in
While there have been lawsuits to stop the sale and calls from civic leaders to
save the Examiner, the paper’s fate likely will be with the U.S. Justice
Department if no buyer steps forward.
Antitrust officials are monitoring the sale to make sure that Hearst has done
everything it can to find a buyer before closing the Examiner. The Justice
Department could file an antitrust lawsuit to block the deal if it is not
satisfied with Hearst’s efforts to sell the paper.
The federal government in 1965 exempted the two papers from antitrust laws, and
they have been operating through a joint operating agreement since then.
Though a sale seems unlikely, potential buyers mentioned include San Jose-based
Knight Ridder, Denver-based MediaNews Group, Inc., and San Francisco Independent
Publisher Ted Fang.
(c) Copyright 2000, Editor & Publisher