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Financial Woes May Mean the Death of The American Prospect

The American Prospect, a left-leaning political magazine, is facing the possibility of shutting down at the end of May. To keep the lights on, the nonprofit rag is in need of $500,000. Prospect editor Kit Rachlis (previously an editor at the LA Times, Los Angeles Magazine, and LA Weekly) told Michael Calderone of the Huffington Post that the publication hopes to raise the needed funds through donors and readers.

Still, Rachlis thought the situation was serious enough to inform staffers last Thursday of the magazine’s current financial woes.

Rachlis said Prospect editors “thought it was important to be fair to the staff, to let them know there was a possibility that if we didn’t fill it, the Prospect‘s last issue as currently constituted would be the July/August issue.” The Prospect, which has a robust website, publishes 10 print issues annually; the July/August double issue closes in late May.

Here’s hoping they pull through. The world doesn’t need any more unemployed journalists.

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