From NYTimes:

“Executives at the Hearst Corporation say that one of their biggest papers, The San Francisco Chronicle, is losing $1 million a week.”

Related, perhaps?  From BusinessWeek:

But Hearst’s collection of newspapers, magazines, TV stations, cable programming, and real estate holdings under Ganzi hasn’t performed too badly. Annual cash flows after dividends are well north of $1.5 billion on revenues exceeding $8 billion, say sources familiar with operations. It may be that the board of trustees felt cash flow needed to be invested more fully in businesses with future promise, rather than, say, newspapers, in which Hearst holds a sizable position.

(…)

At the same time, Hearst’s stakes—for the most part in technology companies such as broadband provider Brightcove, digital print company E Ink, and cell-phone video outfit MobiTV—have been timid, often no more than 25%. It could be that stellar records in the past as a passive investor drove that thinking. After all, its investment of $175 million for a 20% stake in ESPN in 1990 is worth more than $4 billion today based on some cable industry analysts’ projections of ESPN’s value. But it may be the Hearst trustees feel as if too much money has been left on the table based on.

Coincidence?  I think not.

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