Straight Arrow News shuts down five years after launch

Digital news outlet Straight Arrow News is shutting down five years after its 2021 launch, according to The Wrap. Employees were informed of the closure during a meeting on Friday. Founder Joe Ricketts also shared the decision in an open letter later that same day. The Wrap, the Star-Herald, and the Omaha World-Herald all reported the shutdown of the Omaha-based digital outlet. [1][3][4]

The closure comes only months after the outlet introduced a paid subscription service, The Wrap reported. Straight Arrow News was originally launched with a stated mission to deliver nonpartisan journalism. It was not immediately clear from the reporting how many employees would be affected by the decision, but the digital publication ceased publishing immediately. [1]

Ricketts established his wealth as the founder of TD Ameritrade, an online stockbroker in the United States. Forbes estimated his net worth at 4.1 billion dollars in 2024. The Wrap confirmed that the TD Ameritrade founder established the news outlet in 2021. [1][5]

The closure of Straight Arrow News coincides with wider turmoil in digital media publishing. According to The Hollywood Reporter, pioneering digital publication Salon announced its own closure on Thursday after 31 years of operation. Salon stated that its publishing model was no longer sustainable under current business realities. [2]