Early this morning, Andy Merrett, who formerly worked for some of the Shiny network’s blog titles, reported on the Blog Herald that Shiny Media has gone into administration.
Journalism.co.uk is trying to obtain more information.
Merrett wrote:
“Despite this year’s cutbacks and new additions, it doesn’t seem to have been enough to save the company.”
Interestingly, Shiny’s co-founder, Katie Lee claims today, via Twitter, that Shiny Media never received the reported $4.5m of funding from Bright Station Ventures in 2007, an amount confirmed here on Shiny’s own blog.
Lee, who left the company in February, wrote today:
“$4.5m was incorrectly reported in the press and we were told to stick with the story. Was mortified.”
Lee also said she thought the company had already been bought:
“As far as I know, Shiny Media has already been bought (before I even knew it had gone into administration). So hopefully some jobs OK.”
