The Sun Will Come Out Tomorrow…

by jill ~ September 29, 2008

…but what about on Wednesday? 

Word that the Wall Street bailout has been defeated is rocking the world and more evidence that things are not good all around keep pouring in.  I’m not a *total fatalist, so I do think that things will turn around, but news just in from Crain’s New York that The New York Sun may be folding… the paper reportedly will come out tomorrow, but as for after that - things are still unclear.

According to the story, “While often praised for its journalism and particularly for its cultural coverage, the Sun has been a money-losing proposition from the start.  Revenues this year were projected to reach $6 million, according to one industry insider. Losses are estimated at about $1 million a month.  Observers have speculated that the downturn on Wall Street over the past year has put pressure on the paper’s backers, who have supported the Sun as a vehicle for strongly pro-Israel, conservative views.  The steep decline in newspaper advertising over the last year has also made it tougher for the Sun to find investors, observers say.”

Check out the full story here.