BuzzFeed News, which earned as reputation as a scrappy news-breaking digital rival to legacy media brands, is shutting down. Jonah Peretti, the CEO of BuzzFeed, announced to staffers in a memo on T…
News, which earned as reputation as a scrappy news-breaking digital rival to legacy media brands, is shutting down.
Jonah Peretti, the CEO of BuzzFeed, announced to staffers in a memo on Thursday that they will concentrate their news efforts on, “a brand that is profitable with a highly engaged, loyal audience that is less dependent on social platforms.” He also said that BuzzFeed is reducing its workforce by 15%, and begin discussions with the NewsGuild about the cutbacks.
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