Feminist media site Jezebel is suspending publication, as its owner reckons with a downturn in online advertising.
G/O Media chief Jim Spanfeller announced the move in a memo to staff, calling it an "excruciating" decision.
Founded in 2007 under the Gawker Media umbrella, Jezebel pioneered the sharp, dishy coverage that came to characterise many digital upstarts.
Its suspension follows woes at other new media firms.
Mr Spanfeller said he had hoped G/O - which also publishes sites such as The Onion, Jalopnik and Gizmodo - would be able to steer through "dark times" in the industry, but "could hold out no longer".
He said Jezebel's model did not mesh with the strategy for its other, more niche publications.
Talks with more than two dozen potential buyers ended without success, he said.
"It is a testament to Jezebel's heritage and bonafides that so many players engaged us," he wrote in the memo, shared with the BBC.
"Still, despite every effort, we could not find Jez a new home."
In addition to suspending publication of Jezebel, he said the firm was restructuring editorial and business teams.
The moves will lead to 23 jobs lost, including at Jezebel, he said.
He said he still held out hope that an alternative solution could be reached for the publication.
Jezebel is the latest new media brand to succumb to a downturn in the industry.
Vice Media is continuing to restructure after emerging from bankruptcy. Earlier this year, Buzzfeed News shut down.
In an essay this year, Ben Smith, former editor-in-chief of Buzzfeed News, credited Jezebel with ushering in a new era for media, saying it was one of the "first places to crystallize the powerful forces that would define social media over the next decade: politics and identity".
https://www.bbc.com/news/business-67372543Jezebel Magazine, which was founded in order to push a grimy, resentful, feminist, jedi interpretation of the world to angry young women and sad wine aunts, is to close.
https://jezebel.com/The site is owned by Great Hill Partners, a private equity company that owns and operates Gizmodo, Kotaku, Jalopnik, Deadspin, Jezebel, The Root, The A.V. Club, The Takeout, The Onion, The Inventory, and Quartz.
