Salon tries for new lease on life

After getting sued for falling behind on its rent, Salon re-negotiated its monthly lease to drop rent from $70,000 to $21,000, according to The San Francisco Chronicle. Salon had to forfeit a $400,000 deposit and now is renting just one floor instead of two. But will the lower rent give Salon a new lease on life? In Monday's SEC documents, Salon said it expects to have to raise more money during the quarter ending in Sept. 30 to stay afloat. Salon has issued similar warnings in the past but each time managed to raise the money it needed to keep publishing. Since the company began in 1995, Salon has lost $82.3 million.

Jul 02, 2003 | E-MAIL | SAVE | PRINT | PERMALINK | DISCUSS(0)

Discussion

0 comments about 'Salon tries for new lease on life'

Post a comment

Name:

Email Address (will not be published):

Comment on "'Salon tries for new lease on life'":


Security code:     Enter code to post:

Site Map