BuzzFeed Cuts 35% Staff Under Byron Allen | Los Angeles News

Presented by The Plant Daddies — rare specimen trees, living art, and hand-carved limestone vessels and fountains for extraordinary spaces. Showrooms in Los Angeles and Irvine. Listeners of Los Angeles News Today receive 10% off with code LANEWS10. theplantdaddies.com/lanews BuzzFeed is slashing 35% of its staff in a major restructuring just two months after Byron Allen’s $120 million investment and takeover as CEO — a bold move aimed at turning the struggling media giant into a profitable, sustainable streaming powerhouse. Once the king of viral quizzes and listicles, BuzzFeed’s revenue and ad income have plummeted, with a $15M Q1 loss and 20% ad revenue drop. Allen, already building a massive media empire with CBS late-night, the Weather Channel, and Starz, is betting on BuzzFeed’s potential to dominate free streaming. Leadership says they’re lucky to have Allen’s swift action — and investors will get their first real look at the new strategy when Q2 results drop August 4. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/5f1dddfeeedb0839