My understanding is that any advertisers for the so-called pirated website may also be held liable & sued. This SOPA is very, very bad. And yes, I do think it’ll be the death of FreeRepublic
It's much worse than that. Once a site is declared "infringing" after a hearing in which the accuser, but not the defendant, gets to present a case, businesses are summarily prohibited from transferring money to the alleged infringer, with heavy penalties for failure (even inadvertent failure resulting from lack of timely notification) to comply.
With a gun like that to their heads, advertisers and other revenue sources are simply going to abandon small sites as more risk and trouble than they're worth. Only sites that can afford their own lawyers to fight SOPA injunctions after the fact and maintain enough cash-on-hand to survive lack of income while the fight goes on will be able to survive.