Salon Media Group on Wednesday said it raised $200,000 in a loan from Adobe Systems founder and company director Dr. John Warnock. Issued as an unsecured promissory note, the loan gives the publisher of the Salon.com online news and commentary site breathing room as it seeks to put its history of losses behind it.
Like other Web publishers, the company has battled a tough advertising market, establishing a paid version and other premium services to bolster its bottom line. For now, however, its future appears to rely on the continued support of a handful of key backers, notably Warnock. The unsecured loan follows a $714,000 infusion from the Adobe founder and other private investors in July.