Hedge Funds

Steinhardt-backed NY Sun may shutter


Six years after the New York Sun newspaper launched with the help of neocon hedge fund bigwigs Bruce Kovner and Michael Steinhardt, the daily is in danger of closing down operations. With only a 14,000- paid-subscriber base in a metropolitan area of 9 million, the managers of the conservative broadsheet were looking in September for additional financing in a market that was not favorable to borrowing or currently kind to newspaper circulation. If additional funding is not secured, the paper could close October 1.

Michael Steinhardt