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BuzzFeed News Is Shutting Down: “I’m Shocked and Sad but Not Totally Surprised”
Good morning from the Hive newsroom! Pulitzer Prize–winning online news site BuzzFeed News is officially shutting down, as the rest of BuzzFeed sees company-wide layoffs, CEO Jonah Peretti told staff Thursday. Charlotte Klein and Joe Pompeo get the inside scoop on the internal announcement, where staffers pressed Peretti on why the company, which went public in 2021, hadn’t focused on profitability sooner, and Peretti admitted to “breaking promises.”
In other news, Klein captures how the Fox News–Dominion settlement actually came to be, from the judge’s urging to a vacationing mediator closing the deal. Catch Brian Stelter chat with the Hive’s Molly Jong-Fast and Michael Calderone about the historic lawsuit’s anticlimactic end, on this week’s Inside the Hive podcast. Relatedly, Bess Levin finds that Fox might actually be getting a huge tax break out of this payout to Dominion. Thanks for reading.
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BuzzFeed News Is Shutting Down: “I’m Shocked and Sad but Not Totally Surprised”
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Jonah Peretti announced the end of BuzzFeed’s Pulitzer Prize–winning online news site, citing sluggish returns in the stock market and struggling advertising. The news comes alongside another round of company-wide layoffs at BuzzFeed.
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