The Bold Italic ceases operations
Waylan Choy stashed this in Forever Hold Your Peace (Business Death)
When Bold Italic launched, it was positioned as a hyperlocal media experiment, attempting to bring local web coverage with a certain personality and broad appeal into the tough SF market.
Gannett, the multinational media company headquartered in Virginia that owns the Bold Italic (the concept was developed with Palo Alto company Ideo in 2009) had been struggling to balance its desire for online penetration with its legacy of newspapers. In August of last year, the company made the decision to spin off almost all of its newspapers, including USA Today. The company made gestures toward rebranding itself as a “broadcast and digital company.”
At that same time, I received a curious email from Gannett. (I was publisher of the Guardian at the time.) Originating from the head of the sales department, it informed me that Gannett was offering Bold Italic for sale, to the tune of 5+ million. Welp, I didn’t bite. Also at the same time, Bold Italic expanded its coverage to LA. The mixed messages were confusing to say the least.
UPDATE As for the precise reason why the Bold Italic shut down, that remains a mystery. Gannett representatives have declined to comment. This SF Gate article fills in some of the background of Gannett’s financial struggles.
It shut down because it ran out of money. Similar to gigaom.com ...