In the absence of any new source of backing, the New York Sun might be forced to wrap up publication by the end of this month, said its editor on Wednesday.

The New York Sun is a five-day-a-week newspaper that has limited circulation but professes to present an alternative perspective to that of New York Times. The editor of New York Sun, Seth Lipsky posted the announcement in the online edition of the newspaper on Wednesday, saying that the newspaper has been incurring substantial losses and is yet to make a profit.

The announcement which appears in the print edition on Thursday goes on to blame rising costs as well as tightening advertising markets for the financial woes of the newspaper. Even though investors are ready to pump in more capital into the publication, keeping it operational will require other sources of funding. Some alternatives being explored are negotiations with other newspaper owners and outside financiers who would be willing to try out “possible combinations or investor relationships”, according to Lipsky.

The editor further said that despite increase in print advertising revenues for two successive years and so far this year, it has not been possible to recover the losses. The New York Sun came into existence in October 2001 and began daily publications from April 2002.