The foundation-funded Washington Independent has closed its doors after just three years because its funding dried up. In a closing blog post, editor Aaron Wiener admits that ‘in the end we fell prey to the recession just like everyone else. The site combined investigative reporting and real-time news coverage and scored many notable scoops and awards for its journalism. Depending mainly on donations, however, the financial experiment failed, even if the journalistic one succeeded.
Hat tip to Roy Greenslade for the story.