According to Gawker’s Nick Denton, yes.
Gawker head honcho Nick Denton explained to Silicon Alley Insider that the decision to sell the sites was based on the economy, lack of advertising, and his desire to get lean before the blogosphere implodes.
Wait. Don’t panic. One prognostication does not a bubble burst. Don’t rush out to the nearest convenience store to trade in your shares of www.itfrom.us for beef jerkey and (used) scratch of lottery tickets just yet.
Any reasonable person knows that the blogosphere is not going to implode, at least not until someone invents a cheaper and more efficient way than blogging to waste time and money.