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Short Take: Salon gets $15 million in private financing

Salon closed a $15 million round of private financing to form a combination of strategic media and financial investors. New investors include Act III Communications, Constellation Ventures/Bear Stearns, and Wasserstein Perella. It also expanded its management team by hiring Todd Hagen as chief financial officer and Bruce Roberts as senior vice president of sales. TV show creator Norman Lear was named to Salon's board of directors.

Salon closed a $15 million round of private financing to form a combination of strategic media and financial investors. New investors include Act III Communications, Constellation Ventures/Bear Stearns, and Wasserstein Perella. It also expanded its management team by hiring Todd Hagen as chief financial officer and Bruce Roberts as senior vice president of sales. TV show creator Norman Lear was named to Salon's board of directors.

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