A good part of the revenue eventually was generated by cheaply generated meme content while longer form, crafted content was suffering. I'm honestly surprised they're still going. I assumed Jeff would peel off with most of the Giant Bomb guys and start something new by now. All that's left there is the Giant Bomb personalities and even that's not enough to float GameSpot and the others. GameFaqs should probably go back to its original owner.
These days when I tell actual gamers I used to work on GameSpot, they always think I mean GameStop and then don't even know what GameSpot is. It is a pretty pointless thing now given you can watch any number of Twitch streams to see what any game is like and is worth playing.
...anyway I'm sure this was a fire sale of an asset CBS forced Red Ventures to take in order to get CNET. I'm also surprised it took this long for Red Ventures to dump it.
*Edit* Ok wow I did not realize the Giant Bomb as I knew it completely fell apart. So Jeff did leave as did Vinny and Brad and they are doing their own things now. I don't know anything about the new crew but I don't see how any can complete with even the most mediocre Twitch streamer.