It's going to look to Internet TV—you know, with Joe the Plumber at the helm—to fill in the gap (the link includes a great round-up of reaction):
No one is rolling in big bucks these days (except for Exxon and bailed-out CEOs who got bonuses). And it is notable that most advertising in blogs is not what it used to be.
Meanwhile, PJ Media has in many cases aroused strong feelings since it was founded by conservative bloggers and is considered a conservative blogging portal (even though there are some exceptions). Progressives don’t like it or respect it, even though it has some good original reporting and varying viewpoints on some opinion pieces. Conservatives generally like it. Some of the centrist sites (such as this) have linked to it and even have writers (including from this site) who’ve occasionally contributed to it.
Some on the left, right and center remained angry at PJ Media because, early in the game, they had thought about joining and for one reason or other didn’t or weren’t invited. In other words: the very topic of Pajamas Media is a politically-loaded one on the Internet these days.