By paulgillin | March 23, 2022 - 5:25 pm - Posted in Uncategorized

We were excited when BuzzFeed announced a major commitment to investigative journalism and hired old friend Craig Silverman as one of its top editors back in 2015. We were even happier when BuzzFeed, which cut its teeth on riveting stories like 15 Celebrities Who Waited Until They Were Married To Have Sex, won a Pulitzer last year for its exposé on China’s detention of Muslims in its Xinjiang region.

Photo: Wikipedia

So we were disappointed, though not altogether surprised, to read that many of the top editors have abandoned ship in the wake of a $25 million loss from operations in the most recent fiscal year, down from a $12 million profit the year before. CNBC says some large shareholders ever urged CEO Jonah Peretti (pictured) to shut down the company’s news organization entirely because it’s losing $10 million a year.

“This morning we announced plans to accelerate profitability for BuzzFeed News, including leadership changes, the addition of a dedicated business development group, and a planned reduction in force,” Peretti said Tuesday, burying the lead. “We will prioritize investments around coverage of the biggest news of the day, culture and entertainment, celebrity, and life on the Internet.”

In other words, those Chinese Muslims can go pound sand.

To give Peretti his due, he was under pressure to do something as the stock has fallen more than 50% over the last six months since its initial public offering as a special-purpose acquisition company in December. The situation worsened with a disastrous quarterly earnings report and projected revenue decline on Tuesday.

Peretti has had success turning around HuffPost with a similar cutback strategy. BuzzFeed isn’t giving up on news entirely, but it will clearly emphasize those stories that generate clicks and eyeballs. It’s another indication that in an environment of social media misinformation and 10-second attention spans, the market for serious journalism continues to wither.

This entry was posted on Wednesday, March 23rd, 2022 at 5:25 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3,961 Comments

  1. July 20, 2022 @ 12:33 pm


    darknet drug store darkmarket link

    Posted by HillDub
  2. July 20, 2022 @ 12:48 pm


    darknet market list dark markets

    Posted by Janmub
  3. July 20, 2022 @ 1:01 pm
    Posted by Williamdom
  4. July 20, 2022 @ 1:47 pm


    [url=http://chloroquine.works/]chloroquine 40 mg[/url]

    Posted by TommySit
  5. July 20, 2022 @ 1:51 pm


    best darknet markets deep web drug url

    Posted by DavidLot
  6. July 20, 2022 @ 3:34 pm


    tor dark web dark web market list

    Posted by HillDub
  7. July 20, 2022 @ 3:35 pm


    [url=http://antabuse.solutions/]disulfiram antabuse[/url]

    Posted by Michaelmaica
  8. July 20, 2022 @ 3:49 pm


    drug markets dark web deep web drug url

    Posted by Janmub
  9. July 20, 2022 @ 4:05 pm


    tor market links tor markets links

    Posted by Williamdom
  10. July 20, 2022 @ 4:24 pm


    [url=http://indocin.digital/]indocin drug[/url]

    Posted by TommySit
  11. July 20, 2022 @ 4:55 pm


    darknet market lists darkmarket

    Posted by DavidLot