Newzbin2 is calling it quits, after years of fighting off the media lobbying industry, the Usenet provider decided it's not worth the effort. The site has been under attack for a while and has been blocked in the UK for more than a year.Not only was the site inaccessible, directly, copyright holders were pressuring PayPal to stop processing payments, depriving it of its revenue source.
The biggest reason though was the drop in popularity. Unlike with The Pirate Bay, Newzbin2 suffered from the blockade and users went elsewhere. Few of the ones that remained paid anything. Scaring off payment processors didn't help.
The site may be gone and anti-piracy groups may be hailing this as a big win, but pirates just went elsewhere.
Piracy, as a phenomenon hasn't been deterred, all this does is provide these groups with something to show off for all the money the music and movie industries have been pouring into them.