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A source close to AOL has informed ReadWriteWeb that it will be shutting down and relaunching the Weblogs Inc. "Lifestyle Blogs" as online magazines. These blogs make up roughly 1/4 of what remains of the Weblogs Inc. network that AOL acquired four years ago. From the heady days of carrying the flag of the blog revolution in 2003 and 2004, to a high profile buy-out by AOL in 2005, the near-term future of Weblogs Inc. raises interesting questions about the ballyhooed medium of blogging itself.
AOL Senior VP of Programming Marty Moe held a conference call for all the bloggers in the Weblogs Inc. network this afternoon, a week after cutbacks and work slowdowns across the network put staff into a panic and shed a negative light on the business of blogging in general. Moe told staff that in fact, Weblogs Inc. is growing fast, seeing record traffic and consistent revenue growth.
Immediate staff reactions though have been anything but positive. While Moe tells a story of aggressive growth, we're hearing that the bloggers who made the business are feeling manipulated and let down.
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