The New York Post has shut down its standalone entertainment and celebrity gossip site PageSix.com after less than four months, paidContent reported.

News Corp.-owned PageSix.com became an independent site in December.

The site was shuttered due to the spiralling U.S. economy, and had problems gaining market share due to already established gossip sites, such as PerezHilton.com and TMZ.com, according to paidContent.

The closure has led to a layoff of 18 editorial and other employees, and three PageSix staffers who have been given other assignments at the Post.