After trying to generate revenue from a free “journalism” website, it seems that BuzzFeed News is finally closing its doors. BuzzFeed CEO Jonah Peretti released a memo this week announcing that the media company would be laying off 15% of their total staff, some of whom will be getting select jobs at HuffPost, where they can continue shilling for left-wing politicians.
In the memo, Peretti mentioned that he was closing down BuzzFeed News, “the big platforms wouldn't provide the distribution or financial support required to support premium, free journalism for social media”. In reality, BuzzFeed News is closing because it seems that people are growing tired of the stale reporting and obvious bias the media company has shown towards progressives in power.
Keep in mind that Fox News, which was just hit was an outrageously-high fine, is still beating their competitors (CNN and MSNBC) by a large metric. So clearly people still have an appetite for hard-hitting news that tells the truth. Could it be that people are finally tired of hearing the same spin from liberal news outlets, or was BuzzFeed really just so bad that they couldn't afford to keep their doors open?
One last note: to show just how bad it's gotten for BuzzFeed, you just need to take a look at their stock valuation at it's highest compared to its current stock value. The high number was $9.61 in December of 2021. The low number? $0.75. Yikes, that's a lot of damage. If you'd like to read more about BuzzFeed's failed lefty news division, please read this article from Breitbart. An excerpt of the article has been copied below:
After more than a decade of failure, far-left BuzzFeed News is finally shutting down.
BuzzFeed CEO Jonah Peretti’s memo announcing the mercy killing Thursday morning and the memo was tweeted out by a media reporter* for the far-left New York Times.
In part, the memo read:
Additionally, I made the decision to overinvest[**] in BuzzFeed News[***] because I love their work and mission so much. This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism[****] for social media.
Just as we reduced our footprint in NYC last year, we will be reducing our real estate in Los Angeles from four buildings to one[.]
HuffPost and BuzzFeed Dot Com have signaled that they will open a number of select roles for members of BuzzFeed News
As part of today’s changes, both our CRO Edgar Hernandez and COO Christian Bressler have made the decision to exit the company.
Overall, BuzzFeed will cut 15 percent of its 1200-person staff.