SAN FRANCISCO (CBS SF) — It’s the end of an era for an alternative San Francisco newspaper touted as a community watchdog. The San Francisco Media Company has announced its decision to cease publishing The San Francisco Bay Guardian, citing economic hardships.

In an email sent to employees Tuesday, San Francisco Media Company publisher Glenn Zuehls says, “Unfortunately, the economic reality is such that the Bay Guardian is not a viable business and has not been for many years.” Zuehls, who was named publisher last June, says he’s tried hard to save the financially-troubled newspaper, but “the obstacles for a profitable Bay Guardian are too great to overcome.”

READ MORE: Berkeley Police Arrest Suspect for Series of Anti-Semitic Hate Crimes

SFist has Zuehl’s full email posted on its website.

The 48-year-old newspaper, which the San Francisco Media Company has published since 2012, is known for publishing an annual “Best of The Bay” that awards  restaurants, businesses and activities in the Bay Area based on a readers’ poll and staff recommendations.

READ MORE: Stimulus Check Update: Is A Fourth Relief Payment Coming?

The San Francisco Bay Guardian has been an important progressive voice in the city since 1966,” Editor-in-Chief Steven T. Jones told CBS Local Tuesday. “San Francisco will be diminished by its loss, especially now, in a time where those with economic and political power are destroying the city. It’s a sad day for the city of San Francisco.”

Since SFBG had been acquired, the publication had hired seven employees and enlisted between 6-10 regular freelancers. The dismissed full-time staff has been offered “a small severance package” and two in-house editors have been offered the opportunity to transfer to a sister publication. They are reportedly weighing their options.

The site has released a statement reporting their closure, announcing their pride in their “legacy as a community watchdog” and their relentless “push for a better city.”

MORE NEWS: UPDATE: Lighter Winds Lead To Early End of Red Flag Warning in North and East Bay Hills

Their final issue will be published Wednesday, October 15.