New York Sun Will Fold

According to a letter from an editor to freelancers obtained by Gawker, today's issue of neoconservative newspaper The New York Sun will be the last. At the beginning of the month, editor Seth Lipsky announced that the paper, which has never made a profit since it began in 2002, was in serious financial trouble and actively seeking investors. The Post reports that owners had gotten some help from venture capitalist Tom Tisch, but given the current financial crisis, hopes of interesting other investors dimmed. The Sun had been estimated to be losing about $1 million a month. Though its right-wing editorial slant initially made The Sun stand out in liberal New York City, the broadsheet distinguished itself over the years with excellent arts and culture coverage.