The American Prospect to Shutter?

The liberal mag, The American Prospect, is in deep trouble, so much so that Editor Kit Rachlis felt the need to let his staff know late last week that the publication is not doing well financially. HuffPost media writer Michael Calderone has the scoop. Key points: If the mag doesn’t raise enough cash it could close in late May. They’re looking to raise $500,000 by summer.