G/O Media, formerly Gizmodo Media Group, has sold sports blogging site Deadspin to European firm Lineup Publishing, a new digital media rollup company, CEO Jim Spanfeller announced in a note to staff Monday.

Why it matters: The firm, which was acquired by private equity firm Great Hill Partners in 2019, has been slowly offloading sites as pressure mounts from investors to make a return on its investment.

Details: In the memo, Spanfeller said none of Deadspin's existing staff will move over with the site as part of the deal and the new owners will "instead build a new team more in line with their editorial vision for the brand."