It was announced yesterday that Twit.tv will no longer be broadcasting live content and will be shutting down its very popular and active chatroom. These announcements are major changes from the way TWiT has produced content and grown its brand over the past 7 years.

TWiT will be taking a more traditional television network role with pre-produced content that will be edited before it airs on the TWiT live stream. It is expected that TWiT CEO Lisa Laporte will make an announcement in the coming days to discuss the changes to the network. TWiT pioneered the use of live Internet streaming with a real-time chatroom. Only time will tell whether these changes will negatively impact TWiT's highly connected audience.

UPDATE 1: TWiT will continue to air its keynote specials live on Live.Twit.TV

UPDATE 2 : The latest news is that TWiT will be keeping their live streaming content on the network and possibly putting the chatroom behind a paywall or invite only system for better identification.

Here is a video clip from yesterday announcement