Why Are The Sun's Backers Getting Cold Feet?
cityfile · 09/04/08 07:25AMLast night, word emerged that The Sun, the right-leaning daily founded by Ira Stoll and Seth Lipsky in 2002, may end up shutting down at the end of the month if the company doesn't find additional investors willing to step in. The Sun has had financial problems since day one and it never made much headway in the circulation department. This time, though, it looks like it could be the end of the line: The paper even posted an account of its problems on its website. (Perhaps in the hope that another super-conservative, Jewish billionaire will turn up with his checkbook.) So why are the Sun's current backers—including Bruce Kovner, Tom Tisch, and Michael Steinhardt, left—giving up? They've got plenty of other stuff to worry about, that's why.