I was very sad to find the announcement this morning. Google Reader is being retired later this year. July 1 to be exact. After that date, Google Reader will no longer be available.
This is terrible news as millions of people rely on Google Reader on a daily basis. I use it a lot to keep up with bloggers, news and events going on. I know there are other alternatives but I don't really like them as much as google reader.
I also commented about this on Google Plus, ironically.