Posts tagged bankrupty
Vice to lay off hundreds and stop publishing on website
February 23, 2024 // Once high-flying media brands are shrinking as the digital ad market tightens further. BuzzFeed on Wednesday announced the sale of Complex for $108.6 million, a company it paid nearly triple for as part of its SPAC in 2021, albeit with some assets not involved. BuzzFeed also said it will lay off 16% of its workforce. Vox Media, which an executive once dubbed the "most acquisitive company" in digital media, spun off its political brand NowThis last year. It laid off 4% of its overall staff in November and 7% last January.