Startup news site The Messenger shutters less than a year after its launch

The Messenger, a startup digital news website that launched in May, is shutting down after reports that it was running out of money, an executive at the outlet who has been briefed on the matter told NBC News on Wednesday.

The Messenger launched in May with Jimmy Finkelstein, who previously owned The Hollywood Reporter and The Hill, at the helm. It promised to provide “thorough, objective, non-partisan, and timely news coverage” in a time of bias and misinformation.

Earlier this month, Semafor reported that The Messenger’s board was considering shutting down the website as the outlet was set to run out of funds by the end of January. A spokesperson denied the claim to Semafor, saying additional funding had already been secured.

A day before staff were informed they were now without jobs, The New York Post reported that Finklestein was working to secure deals to inject new revenue into The Messenger to keep the site going.

News of The Messenger’s end comes after a brutal month of media layoffs: The Los Angeles Times, Forbes, Time, Sports Illustrated, Tech Crunch, NBC News and Business Insider all recently announced cuts to their staff.

Unionized workers at Conde Nast staged a single-day work stoppage last week over what the NewsGuild described as the company’s “unlawful” negotiations on proposed layoffs.

This is a developing story. Please check back for updates.