Nick Denton's Gawker Media is restructuring again. The large-headed blog guru is shuttering my former writing digs at Valleywag and shifting Owen Thomas from his position as managing editor to a columnist for Gawker. Denton is also looking to unload The Consumerist, a Consumer Reports of sorts for the new millennium.

The company has changed things up several times this year already, selling travel-focused Gridskipper, political-focused Wonkette and music-focused Idolator. Long-time Gizmodo editor Brian Lam turned the reigns of the gadget site over to Jason Chen when he got a promotion and Denton's right hand man, Noah Robischon, just left Gawker for Fast Company. 

The closing of Valleywag and unloading of Consumerist follows an apocalyptic prediction for the Internet ad market by Denton on his personal blog yesterday. He claims Internet advertising could drop by 40 percent next year. Yikes.

(Photo of Valleywag's Owen Thomas by magerleagues)

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