Is the New York Sun Fated to Go Under?

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Today, Seth Lipsky, editor-in-chief of The New York Sun, published an editorial stating that unless the Sun is able to secure additional financing, it may very well cease publication at the end of September. I quote:

This morning I write to you about the future of The New York Sun, which is in circumstances that may require us to cease publication at the end of September unless we succeed in our efforts to find additional financial backing. The managing editor, Ira Stoll, who is one of the founding partners in the paper, and I have shared this news with our colleagues, and we would like our readers as well to be aware of the situation…

…After more than six years of publication, the Sun is now at a crossroads. It has succeeded in establishing journalistic credibility and a reputation for quality and verve, and in becoming a part of the local, national, and international conversation. It is read daily by tens of thousands of New Yorkers, including the political, policy, and cultural leadership in the city. It is read in the nation’s capital – in the White House, the Congress, and in the foreign chancelleries. Newspapers and Web sites in the city and around the world follow our scoops, quote our editorials, refer to our cultural criticism, and analyze our sports coverage…

…Our losses, which are substantial, have been covered so far by a group of investors whom we would call heroic. And they are prepared to continue to back the enterprise with new capital. But as costs rise and the advertising market for newspapers generally tightens, keeping the Sun alive and moving it toward self-sufficiency will require broadening the base of investors beyond the original group…

I have very little use for the right-wing, but a multiplicity of voices is essential for a healthy democracy. Our democracy is not healthy — this is one more symptom. And print, yes, is dying, I’m afraid. I hope the Sun folks get the funding they need.

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