Magazine article Editor & Publisher

Good Morning, `Examiner'

Magazine article Editor & Publisher

Good Morning, `Examiner'

Article excerpt

In the latest bizarre twist in a newspaper saga that continues to defy conventional wisdom, the Hearst Corp. agreed to sell its 112-year-old flagship San Francisco Examiner to the publishers of the San Francisco Independent, a free, thrice-weekly paper and longtime critic of the Examiner.

Under an unusual arrangement, Hearst will continue to operate the paper and give the buyers an unspecified subsidy, said Ted Fang, the maverick publisher of the Independent. The buyers wouldn't get the presses or building from Hearst. All Examiner staff would remain Hearst employees for the time being; Fang would not be obligated to hire them. Neither side would release a sales price.

The new owners plan to convert the Examiner to the morning cycle after four months, and go head-to-head with the San Francisco Chronicle, which Hearst agreed last summer to buy for $660 million. That sale is expected to be finalized at the end of this month.

The Independent, distribution 212,000, is owned by the Fangs, a politically prominent San Francisco family. …

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