LA Times #1 in Declining Circulation...

...in the absolute number of subscriptions dropped over four years that is. The San Francisco Chronicle was actually worse in circulation hemorrhage in percentage terms.

All the same it's not exactly the accolade you want hanging on your wall if you're the publisher of the Times. From Editor & Publisher (h/t Patterico):

While the industry has lost about 10% of circulation overall in the past four years among the leading papers, some have bled much more than others during the same period, according to an E&P analysis of data from the Audit Bureau of Circulations.

The Los Angles Times lost 20% of daily circulation or more than 200,000 copies over the past four years, for example, while up the coast the San Francisco Chronicle's daily circulation dropped almost 30%.