Yahoo will reportedly shut down MyBlogLog in January. Marshall Kirkpatrick at ReadWriteWeb claims to have heard from "sources close to the project" that this is the case.

"Yahoo! has let the service atrophy for years and will now put it to rest," writes Kirkpatrick. "To think that this service offered publishers and developers access to personal, demographic, taste and activity data of a website's readers - and yet that offering has in the end gone no where - that's downright crazy."

MyBlogLog was originally developed by Cloudspace out of Florida, but was acquired by Yahoo in January 2007. The company paid over 10 million dollars for it. According to Wikipedia, there were over 45,000 blogs subscribed to it at the time, and it currently has 275,000 registered users.

It's no secret that Yahoo is cutting costs wherever it can. For example, earlier this year, they shut down the once popular Geocities. Just this week, they announced that they would be closing their offices for a whole week to save a little dough.

No mention of the demise of the service is mentioned on the MyBlogLog blog.

Source: news.cnet.com