Tuesday, 18. February 2003
Topic: - on February 18, 2003 at 10:30:56 AM CET
Salon May Not Survive Beyond February
Online magazine publisher Salon Media Group Inc. warned that it may not survive beyond this month if it can't raise more money to pay its rent and other bills. Things are so bad, Salon said, it stopped paying rent for its San Francisco headquarters in December, prompting the landlord to issue a Jan. 29 demand for a $200,000 payment.
To raise money, the company said it may sell its rights to $5.6 million worth of advertising on a Cablevision Systems Corp. subsidiary for as little as $1 million.
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