The Independent’s profit soars after TV and US growth Media British online news site The Independent has seen profits soar on the back of its success in TV and US expansion, lining it up for double-digit revenue growth in 2024. In its financial year 2023, operating profit shot up by 82 per cent to £3.5m, from £1.9m the previous year, despite flat annual revenue at [...]
Buzzfeed urged to go right wing after Ramaswamy takes stake Media Activist investor Vivek Ramaswamy has demanded Buzzfeed feature more right-wing voices and cut jobs after he bought a near eight per cent stake in the firm.
The Independent eyes online news empire with control of Buzzfeed and Huffpost UK Media British online newspaper The Independent is reportedly in talks to take over the operations of BuzzFeed and Huffington Post UK.
Buzzfeed slashes team by 12 per cent in bid to save cash December 6, 2022 Buzzfeed will cut 12 per cent of its headcount in a desperate push to slash costs in the face of economic uncertainty. In a note written to staff, the firm said revenues had been battered by a “combination of worsening macroeconomic conditions, and the ongoing audience shift to vertical video”. “That requires us to lower [...]
Sink or swim: The peril of floating as an online media firm July 7, 2022 The excitement surrounding Buzzfeed’s IPO was palpable. It had a loyal following of millennials, millions of investment, and a private-market value of around $1.7bn (£1.4bn). Last summer, Buzzfeed founder and CEO Jonah Peretti said the float was about “taking the next step in BuzzFeed’s evolution, bringing capital and additional experience to our business”. He said [...]
Buzzfeed runs out of buzz as losses swell and time spent on sites dwindle May 17, 2022 Losses continue for media giant Buzzfeed as the firm struggles to gain momentum following its market debut last year.
BuzzFeed News’ top editors step down following major job cut plans March 22, 2022 BuzzFeed News editor-in-chief Mark Schoofs, as well as two other top editors, have stepped down this afternoon following internal announcements that job cuts were coming across the board.
Buzzfeed UK revenue falls as pandemic hits digital advertising April 12, 2021 Buzzfeed UK’s revenue dropped last year as the online media group battled the impact of the Covid-19 pandemic on the online advertising market. The website’s UK division, which also covers its international operations outside the US, posted a 16 per cent decline in revenue to £18.9m in 2020. However, Buzzfeed said an aggressive cost-cutting strategy [...]
UK HuffPost office next on Buzzfeed’s chopping block March 12, 2021 A total 16 full time journalists working at HuffPost in London are at risk of losing their job, as BuzzFeed begins consulting on plans to slim down Huffpost “operations” in the UK and in Australia. More than half of the 29 HuffPost journalists working in the London office have been informed they face redundancy, the [...]