This is kind of a bummer news story to read, but not really surprising. It's been a long time since Digg was on the radar for purchase. Will it stumble further into mainstream uselessness or will whatever the new Digg becomes get back to the days of being better than /.

User-generated news site Digg has been working with influential investment bank Allen & Co. (the ones that recently got Slide a half billion dollar valuation) for a few months now, and pitching big tech and media companies on a sale.

Read the full post which came via TechCrunch.