Chronicle Publisher Frank Vega says his paper is now turning a profit some weeks after years of significant losses, including more than $50 million last year.
Vega said that the Chron is moving away from a business model that depends mainly on advertising and instead relies on readers for a greater share of revenue.
The figures released Monday showing the Chronicle’s circulation had dropped by 28.5% to 251,782 were anticipated, Vega said, due to changes designed to make the paper profitable.
In addition, the Chron has:
- • laid off or bought out 151 Guild jobs in news and sales;
- • cut 100 jobs of Teamster drivers;
- • not renewed a contract for 230 Teamster press operators when the paper began outsourcing its printing in July;
- • reduced the width of its pages by 1 inch to cut newsprint costs;
- • raised its single-copy price to $1;
- • raised its home subscription price from $300 to $400 a year for seven-day delivery;
- • and cut delivery to outlying areas and other places where it didn’t make economic sense.