This doesn't necessarily represent the permanent end to Maker Media. The company is avoiding bankruptcy in favor of a different process to please creditors, and it's trying to both keep the Make: online archive and print magazine running. You may hear more as negotiations progress over the next few weeks.

It's not unexpected. Dougherty told TechCrunch that it had "always been a struggle" to make Maker Media work as a business. For that matter, the very DIY culture that Maker helped foster has undermined it. Dougherty noted that an abundance of free online content had undermined his company's chances. Maker Media has had a long-lasting impact on the tech industry -- it's just a question of whether or not it'll continue playing a role.