Prognosis for Improves

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  • Read Later may be getting off its deathbed. A poster child for dot-bomb disease, the ailing health care site announced today that it has found a treatment for one of its major symptoms: massive hemorrhaging of cash sustained in a head-on collision with America Online's marketing department.

With less than five months left, according to its own auditors, the company announced yesterday that it has hired Bear, Stearns and Company to explore "strategic alternatives," suggesting an outright sale of the company. The company says that it can't continue for much longer, citing dwindling reserves and lower-than-expected advertising revenue. The company has about $24 million left in its coffers.