I think this post makes it pretty official.
http://www.fearnet.com/news/news-art...rewell-fearnet
As NE said, too bad to see one of the bigger horror outlets go down, but I agree, they could have had better content. On average though, I thought they always had at least one or two films worth watching at any given time (or in most cases, re-watching since I'd already seen most of their better stuff), and the selection of shorts was always good.