Unable to raise enough cash to stay afloat, conservative rag The New York Sun is shuttering. Not even seven years after launch, founder Seth Lipsky finds himself closing down the daily rag, which is burning through some $1 million a month. And without new investors and a balance sheet $70 million in the red, there appears little other choice. (Maybe Bloomberg will buy it?) An announcement is expected in tomorrow's paper, but Internet wizards that they are, they've posted it online already. Tuesday, September 9, 2008
New York Sun Sets
Tomorrow's paper
Unable to raise enough cash to stay afloat, conservative rag The New York Sun is shuttering. Not even seven years after launch, founder Seth Lipsky finds himself closing down the daily rag, which is burning through some $1 million a month. And without new investors and a balance sheet $70 million in the red, there appears little other choice. (Maybe Bloomberg will buy it?) An announcement is expected in tomorrow's paper, but Internet wizards that they are, they've posted it online already.
Unable to raise enough cash to stay afloat, conservative rag The New York Sun is shuttering. Not even seven years after launch, founder Seth Lipsky finds himself closing down the daily rag, which is burning through some $1 million a month. And without new investors and a balance sheet $70 million in the red, there appears little other choice. (Maybe Bloomberg will buy it?) An announcement is expected in tomorrow's paper, but Internet wizards that they are, they've posted it online already. 
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