The problem is the parent company is also bleeding cash

Source: http://www.crazydaysandnights.net

This huge online only celebrity website not named TMZ is going to go under in the next few weeks unless they get a cash infusion from the parent company.

The problem is the parent company is also bleeding cash because most of their other businesses are not doing well either.

Radar Online

Radar staff cuts create shutdown fears as layoffs also hit sister publications

The popular entertainment and gossip website Radar Online was decimated by cutbacks within the parent company’s digital operations that have left it struggling to find copy to fill out the site.

American Media on Friday took an ax to the digital staffers of many of its celebrity titles, including OK!, Us Weekly and In Touch. But Radar Online, a joint venture with Ron Burkle’s private equity company the Yucaipa Cos., was hardest hit, sources said.

One source said nearly all of Radar’s digital staffers were laid off, giving rise to speculation the site could be closed entirely.

An American Media spokesman denied that Radar Online was going dark, however.

“Absolutely not true, the site is not shutting down, not temporarily, not at all,” he said.

But the cutbacks appear to have hamstrung the site’s ability to post new content. The only new story posted Tuesday was an evergreen about shows to binge-watch. And the site posted just two stories on Sunday and again on Monday.

Across the company, up to 23 digital staffers at American Media were given the heave-ho, according to Business Insider.

“Like many in the industry who have been negatively impacted by algorithm changes at Google, Facebook and others, American Media is right-sizing the cost base to the revenue base, with strategic decisions that improve efficiencies and profitability,” the company said in a statement. – Source