The National Wales news website faces closure
The National Wales news website is set to close after 18 months in business.
Bosses had already shut the original print paper after eight months, to focus on its online content.
The website's owner Newsquest, one of the largest news groups in Britain, confirmed that it is "consulting on the proposed closure".
Huw Marshall, who founded it as a weekly newspaper in March 2021, before it switched online, described it on Twitter as "a genuine shame".
He confirmed that he will be leaving, and it is due to close at the end of August.
He wrote in a blog: "The need now for a stronger news media in Wales has never been greater, particularly ones that discuss the issues that matter, the issues that impact the everyday lives of the people living in Wales, impartially and based on fact.
"The future isn't digital, digital is the now. Developing sustainable business models in the digital space has become challenging in recent times and The National Wales, unfortunately, wasn't immune to market forces."
Mr Marshall also tweeted that "the responses to the news, in the main, shows that the majority genuinely appreciated the work we were doing and our contribution to Welsh civic society.
"It's down to simple economics, (subscriptions) have declined as the impact of the living crisis deepened".
In his Twitter posts, he continued: "Couple that with a fall in ad revenues as businesses tightened their belts.
"Had all the people mourning its demise subscribed this wouldn't be happening. Value those services or they'll disappear."
Mr Marshall said two journalist jobs will be lost as a result of the closure.
'I'm proud of the work'
Rebecca Wilks, 30, who has been working at the National since last September, described it as "awful news", and said: "Wales really does need and deserve a stronger news media ecosystem".
She said: "We need space for in-depth reporting, for Wales-specific investigations and journalists with the time and resources to do this work with care.
"I enjoyed my time with The National - it was sometimes hard, the hours were long, but I love the job of reporting, I'm proud of the work we did.
"I hope I can carry this on, whatever happens."
Former Plaid Cymru leader Leanne Wood, who has been a columnist with The National, tweeted her dismay at the news.
She sympathised with the "excellent staff", and wrote: "So many people in Wales are desperate to see independent Welsh media outlets".
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Gavin Thompson, the managing editor, said in a statement: "Despite the best efforts and dedication of the team, competition from free news outlets including BBC Wales online means The National Wales has not been able to grow its paying subscriber base to a sustainable level.
"A small number of roles are at risk as a result of this proposal and we are consulting with staff affected in an effort to minimise potential redundancies."
Eliot Raman Jones, 24, was on placement with The National as a student at Cardiff University.
"I really enjoyed my brief time working at The National," he said.
"It's unfortunate that a great team of top-quality journalists have been let down by its closure."