The far-left dumpster fire known as Buzzfeed News is losing $10 million a year. Now their stockholders are saying enough. Some shareholders want the entire news division shut down.
Buzzfeed’s reporting has been so bad that even Jeffrey Toobin complained about its reporting.
So it really comes as no surprise that the Buzzfeed newsroom is bleeding $10 million a year from the company's bottom line. What a dumpster fire?
Daily Mail is now reporting that Buzzfeed's shareholders have had enough and are calling for the newsroom to shut down.
New York-based website BuzzFeed is gutting its news division as the digital media company amid reports shareholders have urged Founder and CEO Jonah Peretti to shut it down entirely.
The newsroom, which loses Buzzfeed about $10million a year, is offering voluntary buyouts, while some top editors are leaving.
The departures include Mark Schoofs, the editor in chief of BuzzFeed News, and deputy editor in chief Tom Namako, who announced a move to NBC News Digital on Tuesday. Ariel Kaminer, the executive editor for investigations, is also leaving.
Several key shareholders have told founder and CEO Jonah Peretti to shut down the entire news operation, according to CNBC.
On BuzzFeed's earnings call Tuesday, CEO Jonah Peretti said the company is accelerating its investment in vertical video popular on apps like TikTok.
Buzzfeed is infamous for pushing fake news like their story that President Trump ordered his attorney to lie to Congress.
