Salon May Not Survive Beyond February
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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. The San Francisco-based company painted a grim financial picture on Friday in a quarterly report filed with the Securities and Exchange Commission. 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.
Despite Salon’s having been in online publishing for as long as it has and being popular, it hasn’t found the secret formula for making bucks.
