Slate Group Kills the Big Money

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The Big Money, Slate's business-news website that launched in September of 2008 at the height of the financial crisis, is being put to rest by its parent company. "This has been a difficult decision, in part because so many aspects of the project have worked as we hoped," wrote Jacob Weisberg and John Alderman in a memo to staff today. "Jim Ledbetter and his team have done a first-rate job on the magazine itself, cultivating a talented crew of young writers, coming up with terrific features like Recessionary Road and The Facebook 50, and responding with speed and style to business news." Top staffers will stay on at the Slate Group, which has seen revenue growth this year over 2009. [Romenesko]