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I worked for a pretty popular magazine back in the late 90's. One day near the beginning/middle of 2000, we were all called down to the bullpen for a last minute meeting by management and marketing. (That's never a good sign.)
We were told that we have a great product with amazing writing, but marketing doesn't know how to sell it so they're closing us down. Instead, we went online only. I was the web developer so I survived the firings.
So then we figured that we were set because our website produced more content and had more traffic than any of the company's other websites. However, in March of 2001, we had another emergency meeting. Again, we were told our content was great, but the company was going in another direction. Instead of producing our own content, the company was going to just repost other sites' content. I and everyone else in my team were let go.
Needless to say, the whole "we'll just repost what other people posted" plan didn't go so well. Last time I checked, the company wasn't doing very well at all.
Probably not, but sounds like Cracked.com?
Or Newsweek?
Seems like this happens a lot..