Well that was quick. Two years after the Slate Group launched The Big Money, they’ve announced it will shutter the economic commentary site. And they will end it immediately.
“We regret having to share the news that we’re ceasing publication of The Big Money as of today. This has been a difficult decision, in part because so many aspects of the project have worked as we hoped,” wrote Slate heads Jacob Weisberg and John Alderman in a memo released by Romenesko.
They continued, saying, “The problem, in a nutshell, is that the site is not pointed toward profitability on a fast enough timetable. We’ve struggled to grow the site’s traffic to carry enough ad inventory to run a profitable business.”
Editor of TBM, Jim Ledbetter will transition onto Slate as a business writer. The publisher, Brendan Monaghan, will also move onto Slate’s business development team. There’s no word yet on what will happen to the rest of the TBM team.