The left-wing Salon.com’s fiscal year ended in March, and the Salon Media Group Inc. posted a $3.9 million loss. Business Times reports that this drives the total deficit for the home of Joan Walsh up to $116 million. This year’s loss is better than last year, when the company posted a $4.1 million loss.
The company has started to sell off some assets, Business Times reports, including The Well, a fourteen year-old discussion forum. This resulted in staff layoffs. Also hurting Salon’s revenue is a decrease in premium subscribers. As things stand now, the site is no longer accepting new subscribers or renewals.
Salon is a major cheerleader for President Obama and his fiscal policies.
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