Independent news site New Matilda could potentially be closing down as editor Marni Cordell announces she is moving on.
According to Cordell's letter to readers: “As the sole owner of the business that publishes NM, as well as its editor, I really feel the weight of this decision. I realise it probably means the end of NM.
“Late last year I decided it was time to hand the site on to the next generation of editors and since January I haven’t been taking a regular wage. Instead, I’ve been investing the income from our paid subscribers into our younger staff, with the hope that this would give NM its best chance of survival into the future.
“However, recently key staff have been poached by outlets that are able to pay much more than we are. That’s put NM in a position that it can’t recover from. It’s time for me to move on to a more stable job. I can’t afford another year.”
This August would have been New Matilda’s tenth birthday.
Read the full letter here.