In its heyday the Hearst newspaper chain was one of the world's biggest moneymakers. Even as late as 1947, in the booming postwar publishing years when aging Founder William Randolph Hearst paid little attention to business the chain earned $11 million after taxes. But since Founder Hearst's death in 1951, rising costs and decreased revenues have created trouble for the chain's 16 papers. To fight the profit decline, Publisher William R. Hearst Jr. revamped the American Weekly, once a big moneymaker, cut editorial staffs and trimmed costs all down the line. But this was not enough. Last week Hearst Consolidated Publications,...
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