1st\NW Quadrant: The Approval Matrix
By JAMES BARRON\NY Times
The New York Sun, the six-year-old newspaper with a conservative mind-set, announced on Monday that it would close after publishing Tuesday’s issue.
The Sun’s president and editor, Seth Lipsky, said a three-week search for new financial backers had failed. Mr. Lipsky announced on Sept. 4, in a front-page “Letter From the Editor,” that The Sun would shut down by the end of the month unless it raised new money.
But he [Seth Lipsky] assured his staff that The Sun was shutting down “in an orderly way,” not filing for bankruptcy protection. He said The Sun would pay employees through November. He said their health insurance would continue through Dec. 31. A spokesman for the newspaper said it had about 110 full-time employees.