Salon.com Sued by Landlord-Forfeits $400K Deposit for Decreased Rent, to Avoid Eviction (snicker)

National Journal and the Los Angeles Times ^ | July 1, 2003 | Chuck Todd

[ewing]

PRESS PASS: Salon Behind on its rent

Salon.com disclosed June 30 that it has renegiotionated its headquarters lease after getting sued for falling behind on its rent.

The company struck a deal with its landlord late last week that will reduce its monthly rent from $70,000.00 to $12,000.00 according to documents filed with the Securities and Exchange Commission.

Salon will also forfeit a $400,000.00 deposit and rent just one floor of the offices instead of the two floors covered by the pervious lease.

[Bush2000]

I can't believe that there are people stupid enough to keep Salon running.

[Dont Mention the War]

If you take a good close look at their hot-off-the-press annual report, it appears they're running out of stupid people faster than ever.

Combine it with the fact that just last week they had to scramble to quickly throw together a deal to raise a lousy $100,000, and I'd say things are looking quite bleak indeed.

[Bush2000]

What's really ironic is remembering the pie-in-the-sky dreams of David Talbot, who was pictured in Wired and other publications at the time as a guy who financial success had passed-by -- and Salon's IPO was his big shot. Didn't turn out that way. Frankly, I can't think of a better way for a left-leaning rag to die: with a whimper.

[Drango]

From Salon's 10K report and in their own words...

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THE CONTROVERSIAL CONTENT OF SALON'S WEBSITES MAY LIMIT ITS REVENUES

Many of our Websites contain, and will continue to contain, content that is politically and culturally controversial. As a result of this content, current and potential advertisers and Salon Premium subscribers may refuse to do business with Salon. Salon's outspoken stance on political issues has and may continue to result in negative reactions from some users, commentators and other media outlets. From time to time, certain advocacy groups have successfully targeted Salon's advertisers in a attempt to persuade such advertisers to cease doing business with Salon. These efforts may be a material impediment to Salon's ability to grow and maintain advertising revenue.

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That would be FreeRepublic.

Allstate is Salon's largest advertiser and is funding their filth. Here is a link to their complaint page link