From the Globe and Mail:

Before the New York Sun delivered its first newspaper in the spring of 2002, the naysayers were already circling, ready to proffer an epitaph.

The city was already congested with numerous daily papers, they warned. The timing was awful, given a looming recession.

Worst of all, they charged, the fledgling broadsheet was puny – despite the support of Conrad Black, who envisaged the Sun as the New York publishing foothold he always craved, the paper planned to launch with just $15-million (U.S.) in backing.

The predictions of the Sun's demise may have been a few years premature, but that doesn't mean they were wrong.

On Thursday, the conservative-minded newspaper acknowledged it was finally in danger of succumbing to these long odds – and to the increasingly harsh logic of the newspaper industry, which has been buffeted both by new media competitors, readership declines and a brutal slide in classified advertising.