Tuesday, September 30, 2008

New York Sun Goes Under

This certainly isn't the first paper in New York to go under (go back and look how many papers there used to be in the 1940s and 1950s), but I enjoyed the Sun for their investigative reporting, notably from Eli Lake.

They've only been around for six years, but clearly didn't establish enough readership to sustain any longer.
It is my duty to report today that Ira Stoll and I and our partners have concluded that the Sun will cease publication. Our last number will be the issue dated September 30, the first day of Rosh Hashanah. I want you to know that Ira and I, and our partners, explored every possible way to avoid having to cease publication.

We have spoken with every individual who seemed to be a prospective partner, and everywhere we were received with courtesy and respect. I tend to be an optimist and held out hope for a favorable outcome as late as mid-afternoon today. But among other problems that we faced was the fact that this month, not to mention this week, has been one of the worst in a century in which to be trying to raise capital, and in the end we were out not only of money but time.

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