Several websites started by the indomitable Mike Magee are going to shut down, according to his blog.
The IT Examiner was an information technology news website based out of Bangalore, India. The concept was to use low-cost labour and overseas outsourcing to keep costs down while pumping out cheap stories. Unfortunately, you get what you pay for, even with IT hacks.
The News was another website with a similar concept, although focusing on more mainstream news. It even had a sports section.
Both sites were apparently backed by Chinese investors through Metaplume, registered in the British Virgin Islands. However, with the global downturn, advertising revenues have declined significantly.
Most news websites and newspapers are heavily dependent on advertising in order to continue operations. Several notable newspapers have also closed operations, including the Rocky Mountain News and the Seattle Post-Intelligencer.
Metaplume has therefore decided to shut down both sites at the end of March, rather than ride out the storm.
"Mad Mike" Magee is famous for his witty reporting style, developed after decades of writing technology articles. He co-founded The Register in 1994 during the early days of the Internet and technology news websites. After a split with his partners, he went on to create The Inquirer in 2001, where a certain DailyTech journalist worked. He sold The Inquirer in 2006, and left in 2008 to work on The News and the IT Examiner.
Magee is reportedly working on another new venture.