By: Staff reports San Francisco Newspaper Agency's CEO Testifies in Antitrust Trial
More than 200 jobs might be lost when Hearst Corp. sells the San Francisco Examiner
and buys the Chronicle, said Steve Falk, CEO of the San Francisco Newspaper Agency,
as he testified in court yesterday, The Associated Press reports.
Falk appeared yesterday in the ongoing federal antitrust trial that was brought
against Hearst Corp. by former San Francisco mayoral candidate Clint Reilly.
His remark about losing jobs was unclear since Hearst has promised that every employee
will have a job if the Chronicle/Examiner deal goes through. The two papers currently
employ 600 editorial staffers, as well as hundreds of others.
In his testimony, Falk also said that advertisers would pay the same rates despite
reaching fewer readers. With the sale of the Examiner, the San Francisco Newspaper
Agency would not be able to offer advertisers the same reach.
Hearst Corp.'s $660 million bid for the Chronicle has been held up in court by the
lawsuit, postponing its handoff of the Examiner to Ted Fang, publisher of The
Independent.
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