It’s not just newspapers and television that are hurting under the economic slowdown. It’s blogs too. Here’s Gawker Media’s Nick Denton explaining the sale of Idolator, Gridskipper and Wonkette:

Everybody says that the internet is special; that advertising is still moving away from print and TV; and Gawker sites are still growing in traffic by about 90 percent a year, way faster than the web as a whole. But it would be naive to think that we can merely power through an advertising recession. We need to concentrate our energies, and the time of Chris Batty’s sales group, on the sites with the greatest potential for audience and advertising.

Related:
Gawker Media Sells Idolator, Gridskipper; Spins Off Wonkette (NYO via Complete Tosh)