Hong Kong's online news publication Citizen News said its decision to shut operations was due to the closure of another pro-democracy news outlet, Stand News.
Citizen News had announced on Sunday that it would stop posting updates on January 4, and would shut down operations thereafter.
"The decision was made within a short period of time. The trigger point was the fate of Stand News," the publication's chief writer Chris Yeung told reporters. "We could not rule out that [...] we might be exposed to some risks."
Prominent pro-democracy site Stand News closed operations last week after 200 police officers raided its newsroom and froze its assets.
Seven people were arrested on suspicion of conspiring to publish seditious material. Two former editors were later formally charged with sedition.
Hong Kong leader Carrie Lam had defended the raid on Stand News, saying "inciting other people could not be condoned under the guise of news reporting."
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