Just two years after buying the digital media firm for nearly $300 million, BuzzFeed is already considering selling it off, according to a report from The Information. This follows widespread layoffs and the company’s spiking interest in AI content as a cheap solution to the problem of maintaining profitability in a rough ad market.
BuzzFeed is trading low enough to risk a Nasdaq delisting and has suffered a string of unfortunate quarterly reports, necessitating drastic measures from the company. Still, a potential sale of Complex Networks would be a big twist for the brand’s strategic narrative given BuzzFeed CEO Jonah Peretti’s long-running emphasis on consolidation.
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