Hearst Corporation, parent company of the San Francisco Chronicle, is contemplating either developing or selling the paper's headquarters and neighboring land, Editor & Publisher reported Friday

According to a San Francisco Chronicle report, Hearst Corp., is retaining the services of real estate company Forest City Enterprises.

“I don't feel that it will have any immediate impact on the facility or employees. If and when a decision was made to go forward and develop the project the Chronicle would remain in San Francisco and likely go into some new space,” Frank Vega, publisher of the Chronicle, told the newspaper, according to E&P.