10:03 a.m.	See it while you can...	2003-02-17
Reaped	It stands to reason: us progressive, independents and other bleedin hearts just don't have the dinero (or buying power) to support out little lefty sites...but surprise, eh? Web Magazine Facing Failure February 15, 2003 By THE ASSOCIATED PRESS > > SAN FRANCISCO, Feb. 14 (AP) - The Salon Media Group, the online magazine publisher, warned today that it might not survive beyond this month if it cannot raise more money to pay its rent and other bills. The company, based in San Francisco, painted a grim financial picture in a quarterly report filed with the Securities and Exchange Commission. Things are so bad, Salon said, that it stopped paying the rent for its headquarters in December, prompting the landlord to issue a demand last month for a $200,000 payment. The warning was the latest in a series of dire projections made by Salon. The company warned late last year that it might go out of business but then raised enough money to stay alive temporarily. Salon's troubles caused its stock to be delisted from the Nasdaq market in November. Although its news coverage and commentary have attracted a loyal audience, Salon has not been able to make money. The company said it lost $1.2 million during the final three months of 2002, bringing its cumulative deficit to $81 million. > Unable to drum up enough advertising to pay the bills, Salon started charging subscriptions to read some of its stories in 2001. The company began charging fees for all its content late last month as part of its last-ditch survival effort. As of Dec. 31, Salon's site had 47,300 subscribers. New York Times	Sown
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