The Colossal Failure of Racket is Now Complete

MTaibbiTwitterPicMatt Taibbi, what have you wrought?

While the jury is still out on exactly how much blame the high-flying journalist, now safely back at Rolling Stone, must bear for the implosion of First Look Media’s Racket, his abrupt exit has been followed today by a curt and even more far-reaching announcement. Right in the heart of Thanksgiving week:

Since Matt Taibbi’s departure, we’ve been working with the team he hired to consider various options for launching a project without him. After multiple explorations, we’ve decided not to pursue the project. Unfortunately, this means that the team Matt hired will be let go.

Though their tenure was brief, we appreciate the passion and energy each member of the team brought to the workplace, not to mention their hard work on behalf of Matt’s original project. We wish them all the best.

As noted by Capital New York’s Jeremy Barr, the first order of business for some released staffers is clear:

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