Independent news website New Matilda receives takeover offers

The editor of New Matilda says she has received several offers to buy the title since announcing her decision to close the independent news website.

Editor and owner Marni Cordell published a letter to readers on Monday announcing her decision, as well as her resignation, which she blamed on ongoing financial instability and the poaching of staff who she had been training to take over from her.

Cordell said the takeover offers had come from individuals, NGOs and other small to medium publishers, but was yet to begin negotiations.

“I will do all I can to keep New Matilda alive,” Cordell said on Tuesday. “I know it could continue to exist with the right team behind it,” Cordell said.

Former staff members include Adam Brereton, who joined Guardian Australia as deputy comment editor on Monday and Catriona Menzies-Pike, arts editor at academic news website The Conversation.

Asked whether crowdfunding, a method of obtaining small donations from a large group of people, had failed New Matilda, Cordell was circumspect.

“I think crowdfunding can work, but it’s also limited and unpredictable. Earlier in my career I could rely on an unpredictable income but I need something a bit more stable,” she said.

Journalist and academic Wendy Bacon, a contributing editor at New Matilda, said its closure would be a big loss to Australia’s media landscape.