Police say Armani McFarland and John Woods, each 19 and from San Francisco, are charged with robbery and conspiracy, the department said.
The incident happened at Third Street and La Salle Avenue in the city's Bayview District.
Police tell us two armed men demanded reporter Jeff Bush's equipment. He handed it over to the men and then took cover.
The security guard working with Bush fired shots at the men.
One of the men was hit. They took off in a car.
Police say that a person walked into San Francisco General Hospital a short-time later with gunshot wounds. Police said one of the suspects was treated for a "non-life threatening" gunshot wound, but didn't identify the man.
The holdup is the latest in a spate of robberies of San Francisco Bay Area news crews.
(The Associated Press contributed to this report)