From Google’s Blog:
We launched Google Reader in 2005 in an effort to make it easy for people to discover and keep tabs on their favorite 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.
While I have used Google Reader in the past, I really have not been using it regularly more recently. That said, I will probably miss the clean Google interface of Google Reader.
One of the best features of Google Reader was to get old blog posts simply by entering in the website URL since Google had already cached old entries, making it super easy to read old articles from any given blog.