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Reports that Hearst Corporation has sold `The San Francisco Examiner' newspaper to Ted Fang, owner of a local newspaper in San Francisco, California. Significance of Fang's purchasing deal with Hearst; Competitors of `The San Francisco Chronicle' newspaper; Information on the private lawsuit filed against `The San Francisco Examiner.' INSET: Sold: The Wellspring of William Randolph Hearst's Empire.

-- rockers, politicos, Internet moguls -- playing for an audience with more than its share of affluent, literate people, on a stage rich in history, eccentricity and natural beauty. It sounds like a journalist's dream, a great market for a news organization. Yet extinction threatens The San Francisco Chronicle, the leading local news source. The Hearst Corporation says the newspaper lost about $1 million a week last year, and it must either sell the paper, close it or lay off a large part of its already diminished staff. [ABSTRACT FROM PUBLISHER]