The Global Mail, the journalism site that has boasted independence since its launch is struggling with a different kind of independence after founder Graeme Wood announced that he will no longer fund the site.

Mr. Wood made the announcement Wednesday night, after pledging $15 to $20 million to start up the site. This came after he committed to funding the site for 5 years in recent interviews.

The Global Mail is the first of its kind in Australia, where it had no outside funding from ads and relied solely on Mr. Wood’s contributions. If a backer cannot be found, the site will cease to exist by February 20, 2014.

Read more about this on the Sydney Morning Herald website.