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It sounds like the same publisher is shutting down a bunch of non-unionized publications as well, so maybe not related.

well, now they've admitted it's union-related. so much for giving them the benefit of the doubt.

It is on the Wayback Machine: http://web.archive.org/web/*/sfist.com

So what typically happens in this situation? Does a new company form, buy up the assets of the shut-down companies and re-start with new, un-unionized workers?