BuzzFeed News has announced that it will be shutting down, effective immediately. The decision comes after years of financial losses for the news outlet and a failed attempt to merge with Vox Media. The shutdown will result in the loss of jobs for the entire BuzzFeed News team, which had grown to include over 200 employees.
BuzzFeed News was known for its investigative journalism and breaking news coverage, including a series of articles that exposed abuse allegations against Hollywood mogul Harvey Weinstein. However, the news outlet struggled to monetize its content, and its parent company, BuzzFeed, also faced financial challenges in recent years.
In a statement, BuzzFeed CEO Jonah Peretti said that the decision to shut down BuzzFeed News was “heartbreaking” but necessary in order to focus on the company’s core business, which includes its viral content and e-commerce operations. He thanked the BuzzFeed News team for their hard work and dedication and said that the company would work to help them find new opportunities.
The shutdown of BuzzFeed News has been met with sadness and disappointment from many in the media industry, who view it as a loss for journalism and a sign of the ongoing challenges facing news organizations in the digital age.
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