Chronicle Publishing Company
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Founded | 1865 |
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Country of origin | United States |
The Chronicle Publishing Company was a print and broadcast media corporation headquartered in
History
The Chronicle
What would become Chronicle Publishing Company was formed on January 16, 1865, when teenage brothers
Over the coming decades, the Chronicle saw massive growth alongside that of San Francisco, weathering the 1880 assassination of
With the diversification of interests in the 1960s, the corporation owning the Chronicle was spun off into its own unit as Chronicle Publishing to signify a diversification of its interests outside of San Francisco.[
Broadcasting
With the growth of television in the 1940s, Chronicle Publishing Company decided to diversify into that medium by applying for a construction permit for a
Further diversification into broadcasting came in 1975 when the sale of KRON-FM to
was purchased to increase KAKE's reach.Outside the broadcast realm, Chronicle Publishing owned cable systems in
Publishing
In 1968, the Chronicle established its own book imprint in
Demise
As late as 1993,
The movement to sell was partly facilitated by the action of a special stockholders' meeting in April 1995, in which Mrs. McEvoy was ousted from the Chronicle Publishing Company board and therefore from her position as chair.[12] Although Mrs. McEvoy kept her 26.3% ownership share in the company's stock, which together with the 7% held by her son Nion McEvoy gave them a formidable one-third shareholder voting bloc if they chose to vote together, she no longer exerted direct control over the management of The Chronicle or its editorial positions, and could not retain the clout she previously held in the disposition of Chronicle Publishing Company's assets, including The Chronicle.
Over the latter half of 1999 into 2000, the units of the company were sold separately to different entities:
- Boston Globe)
- The Pantagraph (Bloomington, Illinois): Pulitzer, Inc.
- KRON-TV: Young Broadcasting (which paid a record $820 million for the station, then disaffiliated it from NBC in the wake of a conflict with the network)
- Partner network BayTV went to Young with the sale and was folded in August 2001.
- KAKE: LIN TV, which swapped the stations to Benedek Broadcasting for cash and that company's WWLP in Springfield, Massachusetts)
- Chronicle Books: Purchased by Nion McEvoy, Chronicle Books' editor-in-chief, son of Nan Tucker McEvoy and great-grandson of San Francisco Chronicle founder M. H. de Young[13]
- MBI Publishing: Purchased by New York City investment firm Flagship Partners, Inc.
With the exception of the Pantagraph and the book imprints, all of the former Chronicle Publishing assets have met some degree of criticism, misfortune, or both.[
Twenty-four de Young family shareholders received at least $2 billion divided among them from the sales of the Chronicle Publishing assets.[8]
See also
- Concentration of media ownership
- Media in the San Francisco Bay Area
- History of San Francisco
- Old Chronicle Building
References
- ^ Hearst Corporation. Archived from the originalon 26 January 2011. Retrieved 16 January 2014.
- ^ Hearst Corporation. Archived from the originalon 26 January 2011. Retrieved 16 January 2014.
- ^ Hearst Corporation. 16 June 1999. Archived from the originalon 20 January 2011. Retrieved 16 January 2014.
- Hearst Corporation. Archived from the originalon 20 January 2011. Retrieved 16 January 2014.
- JSTOR 3635998.
- Hearst Corporation. Retrieved 16 January 2014.
- ^ a b Seyfer, Jessie (27 July 2000). "Judge Clears Hearst Purchase in SF". Associated Press. Retrieved 16 January 2014.
- ^ a b c Seyfer, Jessie (28 July 2000). "Hearst Cleared To Buy SF Chronicle". Associated Press. Retrieved 16 January 2014.
- ^ Stein, M. L. (4 December 1993). "The New Regime at The Chronicle". Editor & Publisher. 126 (49). Irvine, California: Duncan McIntosh Company: 11. Retrieved 17 January 2014.
- ^ Shepard, Alicia C. (November 1999). "Family Feud". American Journalism Review. 21 (9). College Park, Maryland: Philip Merrill College of Journalism at the University of Maryland: 11. Retrieved 16 January 2014.
- San Francisco Newspaper Company. Retrieved 16 January 2014.
- ^ Stein, M. L. (6 May 1995). "Ousted Chairman Sues". Editor & Publisher. 128 (18). Irvine, California: Duncan McIntosh Company: 14. Retrieved 16 January 2014.
- Cahners Business Information: 10. Retrieved 16 January 2014.