CNET To Shutter Newsburst RSS Reader
by Michael Arrington on December 13, 2007

CNET will shut down its online RSS reader, Newsburst, on December 31, 2007. An email went out to users and a notice has been displayed on the site (see below), along with instructions on exporting news feeds via OPML.

Few people will be affected – Compete.com says only 4,000 people visit the site monthly. It competes with Bloglines, Google Reader and scores of other competitors and clearly never got traction.

CNET looks to be making a number of strategic/corporate development moves to streamline the organization. In October the company secured a $250 million credit line, adding cash to their depleted balance sheet. They then sold photo site Webshots for $45 million. They seem to be hoarding cash and shutting down non-performing or non-core properties. Newsburst, at best, was a distraction. It enters the DeadPool.

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