Comcast (CMCSA +0.36%) and General Electric's (GE +0.20%) NBC has terminated the activities of its news division's EveryBlock. A tersely-worded statement posted on the hyper-local news website's blog said that:
It's no secret that the news industry is in the midst of a massive change. Within the world of neighborhood news there's an exciting pace of innovation yet increasing challenges to building a profitable business. Though EveryBlock has been able to build an engaged community over the years, we're faced with the decision to wrap things up.
It did not elaborate on the reasons for the closure.
