True/Slant, a website started last year to provide an innovative platform for journalists and advertisers, is shutting down following its acquisition by Forbes Media.
True/Slant homepage editor Michael Roston said in a message on TrueSlant.com that some of the contributors to the site, which was launched in April of last year, will become contributors at Forbes.
"I can only hope other news outlets will consider what we've done here as a model for what they'll do next," Roston said.
Forbes acquired True/Slant in May and also hired the media startup's founder Lewis Dvorkin as chief product officer. Dvorkin was formerly executive editor of Forbes magazine.
True/Slant showcased the work of hundreds of freelance contributors and also allowed marketers to publish their own clearly labeled material.
Among the contributors to True/Slant was Miles O'Brien, an aviation and space expert who was laid off by CNN television after 17 years with the network.
The site had 1.5 million unique visitors in May.
Explore further: Cross ownership has positive effect on local media coverage, researcher finds