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Salon snags an additional $750,000

Salon Media Group has secured $750,000 of new financing from investors including Michael Fuchs, former chief executive of Home Box Office; and Wasserstein Adelson Ventures, an existing Salon investor. The Internet media company said the total financing for this round comes to approximately $3.25 million. The San Francisco-based company added that Fuchs would join the board of directors. Salon CEO Michael O' Donnell said in a statement that the funding would provide the company "with more financial strength to weather the current Internet shakeout." Salon added that its subscription services have passed 20,000 paid subscribers. Its premium service lets readers view exclusive content--with or without the advertising banners and pop-ups, depending on the individual's preference.

Salon Media Group has secured $750,000 of new financing from investors including Michael Fuchs, former chief executive of Home Box Office; and Wasserstein Adelson Ventures, an existing Salon investor. The Internet media company said the total financing for this round comes to approximately $3.25 million. The San Francisco-based company added that Fuchs would join the board of directors. Salon CEO Michael O' Donnell said in a statement that the funding would provide the company "with more financial strength to weather the current Internet shakeout."

Salon added that its subscription services have passed 20,000 paid subscribers. Its premium service lets readers view exclusive content--with or without the advertising banners and pop-ups, depending on the individual's preference.