I’ve just had word that UK new media/blogging network Shiny Media has gone into administration.

Despite this year’s cutbacks and new additions, it doesn’t seem to have been enough to save the company.

Bright Station Ventures ploughed $4.5m of funding into the company in 2007 (Update: apparently the self-reported news that Shiny Media received $4.5m in funding was incorrect but was never retracted.). There’s no official word yet on how the relationship between the two companies stands, but I’m sure you can speculate on that. [Read more…]