Sprouter, the advice site for entrepreneurs, has been acquired by Canadian content company Postmedia, it has been announced today.

The site, which allowed entrepreneurs to get advice on their startups from experienced peers, recently announced that it was to close having run out of funds to keep going. However, the company, a startups itself, recently hinted that ‘something’ would be happening that may lead to it having a secure future.

Under today’s deal, Sprouter Inc. becomes a division of Postmedia Network Inc. and the company says that it has “exciting new initiatives” in the works to announce at a later date. Postmedia describes itself as the largest publisher by circulation of paid English-language daily newspapers in Canada.

Sprouter was launched in 2009 as a way for entrepreneurs to connect with each other and get advice from experienced peers and experts. It bought on well-known names like Aaron Patzer, founder of Mint.com and Ben Huh, CEO of the Cheezburger Network as ‘featured experts’, and users could even ask questions to them directly.

We recently interviewed founder Sarah Prevette in an episode of our TNW Sessions podcast.