Asia Times was a newspaper launched in Thailand by Thai tycoon Sondhi Limthongkul in 1995. The newspaper faced financial difficulties in 1997 and closed down the week before the Asian financial crisis erupted with the collapse of the Thai baht on July 2, 1997. Many journalists from Asia Times continued their careers as journalists. Some of them created Asia Times Online as a successor to Asia Times. Asia Times Online came under new ownership and management in early 2015. It is now published and run by a small group of investors who purchased the site. Asia Times Online is now known as “Asia Times” or “AT”, and is dropping the “Online” part of its name.