The New York Sun newspaper may shut down at the end of September, unless the neoconservative publication can find additional funding. Sun editor Seth Lipsky, in an open letter to readers, blamed the paper’s woes on poor advertising revenues.

The Sun was founded in 2002, as an alternative to what the paper’s founders described as the “liberal bias” of the New York Times. The paper also intentionally focuses on local news, as opposed to the Times’ coverage of national and world events. The paper publishes five days a week and has a circulation of about 70,000. The New York Times has one million daily readers.

The paper suffered a scandal in June when a reporter based a story critical of Barack Obama on documents publicly known to be forgeries. The Sun was named for a previous newspaper, which ran from 1833 to 1950.

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