Google announced last night that it'll be killing off Google Reader in its latest 'spring cleaning', which is a euphemism for getting rid of products that not enough people use (even if they still love using it). So yes, that means many people's favourite RSS reader will be turned off for good on July 1, 2013. You have a little over three months to figure out where to get your feed fix next.
Google is getting rid of Reader because as a company, Google is "pouring all of [it's] energy into fewer products." Google explains the death of Reader:
We launched Google Reader in 2005 in an effort to make it easy for people to discover and keep tabs on their favourite websites. While the product has a loyal following, over the years usage has declined. So, on July 1, 2013, we will retire Google Reader. Users and developers interested in RSS alternatives can export their data, including their subscriptions, with Google Takeout over the course of the next four months.
The writing has been on the wall for RSS clients in general as Twitter and other social networks have grown better at delivering the news. But still, the die hards who were still using Google Reader every day (and there's a lot of them!) will have to figure out a brand new Internet reading routine come July. That's never fun.
In order to make sure you don't lose any of your RSS feeds, you can download all your Google Reader data with Google Takeout. Your feeds will be stored in a XML file and various information like the people you follow, items you've starred, etc. will be stored in a JSON file. You can learn more about how to save your Google Reader data here. [Google]