Media News - Thursday, September 04, 2008

New York Sun newspaper could close by end of September

The New York Sun, a daily newspaper launched six years ago as an often conservative-leaning alternative to The New York Times, may stop publishing by the end of September unless it gets additional financial backing. The paper, which began publishing in 2002, has been losing substantial amounts of money, Sun editor Seth Lipsky wrote in a letter to readers published on the paper's website on Wednesday. The losses reflected advertising declines that are hurting nearly every U.S. newspaper amid wider economic problems such as the U.S. housing market slump and the global credit crisis. The letter did not say how much the privately held paper needed, but a source at the paper said the editors told employees Wednesday that it required a commitment of at least USD 10m (EUR 6.9m). Managing Editor Ira Stoll declined to comment on that figure. The paper publishes five days a week and has a circulation of about 70,000, far lower than the million or so copies that the Times has. Unlike the Times, which covers the United States and the world with large reporting teams, the Sun focuses more on the New York City area, though it also covers politics, foreign policy and the arts. (Reuters)

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