Summary:

Salon Plans to Sell Future Revenues To an Unnamed Bank: According to the recent SEC filings, Salon Media Groups may sell some of its future…

Salon Plans to Sell Future Revenues To an Unnamed Bank: According to the recent SEC filings, Salon Media Groups may sell some of its future revenue to an unnamed bank for 60 cents to 80 cents on the dollar. The company also plans to cut costs in unspecified areas.

According to Larry Kramer, the CEO of MarketWatch, Salon’s shortcoming is it’s independence. Unlike many other online publications such as CBS MarketWatch and Microsoft’s Slate, Salon has no big parent to provide traffic and absorb losses. “The only advantage to doing good literature on the Web is that you save on the cost of paper,” Kramer said.

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