The digital left-wing media is falling on hard times in Donald Trump’s America.
The far-left Salon.com is having trouble paying their bills, and unless something changes drastically, they’re going to fold.
While they once had a staff of famous writers and IPO-ed during the tech-bubble with a $107 million valuation, debuting at $10.50 a share, investors would be left with pennies (though perhaps that’s a bit generous, as a $100 investment in their IPO would be worth less than half a cent today).
“Sadly, Salon doesn’t really exist anymore,” wrote Laura Miller, one of Salon’s founding editors who left the site. “The name is still being used, but the real Salon is gone.”
Salon, the struggling digital publisher, is having trouble paying its rent.
A landlord who late last year evicted Salon from its New York offices for nonpayment of $90,000 in back rent is now trying to force the digital publisher to pay more than $700,000 for the unused portion of a five-year lease that is slated to run through September 2019.
Salon had been paying over $300,000 a year to Vbgo Penn Plaza for offices at 31 Penn Plaza, near Madison Square Garden.
By the fall of 2016, according to a suit filed recently in Manhattan state court, Salon had already fallen behind in its rent covering the period from July 2016 to Sept. 30, to the tune of $90,565. Vbgo said it evicted Salon in December and now is trying to get the struggling Web media company to pay up for the rest of the lease.
Salon, which has since set up New York offices elsewhere in Manhattan, declined to comment.
H/T NY Post
After over two decades in existence, the company still has yet to turn a profit.
As it turns out, there wasn’t as big a market for crazy as they thought.
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