BuzzFeed sells Complex for $108.6 million, will lay off some staff

La società statunitense di media BuzzFeed licenzierà circa 160 dipendenti

BuzzFeed Shares Soar After Sale Of Complex

BuzzFeed Shares Soar After Sale Of Complex  Corporate media is on life support. Advertising revenues are sliding, mass layoffs are hitting woke publications, and 'restructurings' are happening all over. Last month, Authentic Brands Group sent rights holder Arena Group a letter terminating Sports Illustrated's license after failing to pay a $3.75 million quarterly payment at the end of 2023. In other words, the publisher likely wasn't bringing in…

BuzzFeed to reduce staff by 16% in major cost-cutting move

BuzzFeed on Wednesday said it is selling youth network Complex for $108.6 million. Job losses come as media and entertainment industries are slashing costs.

Buzzfeed slashes 16% of its workforce, sells Complex

HuffPost parent company Buzzfeed said Wednesday that it is slashing 16% of its workforce — the latest in a wave of layoffs by financially-strapped media companies — and will sell music and culture-focused site Complex The digital media company — once an advertising revenue juggernaut — said the cuts are “designed to reduce centralized costs...

BuzzFeed sells Complex for $108.6 million, will lay off some staff

BuzzFeed has sold Complex Networks to NTWRK, a livestreaming video commerce platform, at a significantly discounted price tag, and it will cut another 16 percent of its remaining staff, the company announced Wednesday. The $108.6 million all-cash deal comes just more than two years since BuzzFeed acquired pop culture media startup Complex in December 2021…

BuzzFeed shares soar after it sells Complex — for less than what it paid in 2021

The digital-media company also said it would lay off 16% of its remaining staff.