TVNewswer is reporting that CBS’ omnbudsblog, Public Eye, will cease operations. No confirmation on Public Eye, yet, but it’s likely to come.

A spokesperson for CBS Interactive tells TVNewser, “We weren’t able to find a sustainable business model for Public Eye. We are exploring ways to maintain a similar spirit of public discourse by engaging the CBSNews.com audience and building a community around multiple voices.”

Yeah… Sustainable business model? Was I the only one who thought the point of the blog was to build credibility for its news operations, so that more people would frequent their broadcast programs/Web site/etc. It’s not like a news criticism/self-editorial site is going to get Best Buy as a sponsor.