Salon.com Tackles Financial Trouble

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SAN FRANCISCO–The parent company of struggling online magazine Salon.com on Thursday announced an injection of $2.5 million in cash and the firing of 14 employees to make the money last longer.

San Francisco-based Salon Media Group Inc. said it received the $2.5 million from a group of investors that includes investment banker William Hambrecht, whose firm handled the company’s initial public offering in June 1999.

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