BuzzFeed, the online media company that rose to fame with viral quizzes, listicles and celebrity gossip, announced on Thursday that it was closing its news division, laying off dozens of journalists and editors.
The move comes as BuzzFeed faces financial challenges and a changing media landscape that has made it harder for digital outlets to compete for advertising revenue and audience attention. BuzzFeed said it was shifting its focus to more profitable areas, such as e-commerce, video and podcasts.
BuzzFeed News, which was launched in 2012, had a reputation for producing original and investigative reporting on topics ranging from politics and culture to technology and business. It won several awards and accolades, including a Pulitzer Prize in 2020 for exposing China's mass detention of Muslims.
But BuzzFeed News also faced criticism and controversy over some of its stories, such as a 2017 report that claimed President Donald Trump had ties to Russia based on an unverified dossier. The report was later disputed by other media outlets and the special counsel investigation.
BuzzFeed News also struggled to find a sustainable business model, relying mostly on advertising revenue that was shared with the parent company. BuzzFeed experimented with other sources of income, such as memberships, donations and licensing deals, but none of them proved enough to cover the costs of running a newsroom.
In a memo to staff, BuzzFeed CEO Jonah Peretti said the decision to close BuzzFeed News was "extremely difficult" and "not a reflection of the quality of the work" done by the journalists. He said he was proud of what BuzzFeed News had accomplished and hoped that some of the reporters and editors would find new opportunities within BuzzFeed or elsewhere.
Peretti also said that BuzzFeed would continue to produce some news content, such as breaking news, entertainment news and social news, but it would be done by other teams within the company. He said BuzzFeed's mission was to "create joy and spread truth" across its platforms.
The closure of BuzzFeed News marks the end of an era for online journalism, as one of the most prominent and influential digital media outlets shuts down its flagship news operation. It also raises questions about the future of other online news outlets that face similar challenges and pressures in a crowded and competitive market.
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