Editor: New York Sun might fold

NEW YORK, Sept. 3 (UPI) -- The New York Sun newspaper might cease publication at the end of September, its editor said Wednesday.

In a message on the newspaper's Web site, Sun Editor Seth Lipsky said the newspaper was started in 2002 with two goals in mind: to make a profit and to provide a local alternative to The New York Times.

"We have always been, and still are, of the view that the paper needs to achieve both goals to be a success," he wrote, saying the Sun is at a crossroads.

"It has succeeded in establishing journalistic credibility and a reputation for quality and verve, and in becoming a part of the local, national and international conversation," Lipsky said.

He also noted the Sun, published five days a week, is one of a handful of U.S. newspapers to experience "substantial increases in print advertising revenues" last year and so far in 2008.

"Yet even with those gains, the expense of producing and distributing the paper exceeds our revenues. So the Sun has yet to achieve its financial goal of making a profit," he said.