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1989: her-ex shuts down.

By Sanders, Rebekah
Publication: Los Angeles Business Journal
Date: Monday, August 30 2004

HEARST Corp.'s Los Angeles Herald Examiner, founded in 1903, was once a rival of the Los Angeles Times, creating fierce competition for headlines. But the rising popularity of evening newscasts drew readers away from afternoon dailies like the Herald.

A decade-long walkout by the Herald's unionized employees that ended in 1977 "caused the paper's circulation and advertising revenues to plummet, while the non-union Times flourished," the Business Journal reported on May 15, 1989.

By then, the Herald was losing as much as $2 million a month and could only muster a circulation of 238,392, compared with 1.12 million for the Times.

"'We've been a (money) losing paper for more than 20 years,'" Chief Operating Executive John McCabe said at the time.

After buyout offers from the Toronto Sun and Los Angeles oil baron Marvin Davis fell through, Hearst finally closed the doors on Nov. 2, 1989.

Though the Herald couldn't earn enough to survive, its legacy has fared better. More than 370,000 copies of the final issue--with the banner headline "SO LONG, L.A.!"--were sold, some going for as much as $20 each from collectors. Today, the Los Angeles Public Library holds the Herald's immense photo archive. And the old downtown Herald building at 1111 S. Broadway, still owned and operated by Hearst, has been the backdrop for music videos, TV shows and movies, including the current release "Collateral." with Tom Cruise.