The Sun sets in New York

New York Sun editor Seth Lipsky officially announced to his staff today the shuttering of the newspaper. The conservative-leaning paper was loosing money and desperately needed a new source of capital. But, as anyone reading the headlines today realizes, this is definitely not the time to be seeking money, a fact Lipsky sadly realized: “Among other problems that we faced was the fact that this month, not to mention this week, has been one of the worst in a century in which to be trying to raise capital, and in the end we were out not only of money but time.”

The paper is not filing for bankruptcy protection and will pay its 100 employees through November and continue their health insurance through the end of the year.

The paper's final editorial ended thusly:

"We can only hope that some day in the future our own record will inspire some new generation of newspapermen and women with dreams to pick up the flag that today we put down. We hope it doesn't take 50 years for the next new start, but even if it does take that long, we hope that they have as much fun as we have had and meet with as much success."