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Nolte: Left-Wing Media Collapse Marches On — Vice, BuzzFeed Sell Off Parts
BuzzFeed and Vice Media, two failing left-wing sites, are starting to sell off their parts, reports the Wall Street Journal.
“BuzzFeed … is looking to sell its food sites, Tasty and First We Feast, according to people familiar with the situation,” writes the Wall Street Journal. “Meanwhile, Fortress Investment Group, which took over Vice in bankruptcy last year, is in talks to sell its Refinery29 women’s lifestyle-focused site[.]”
The Wall Street Journal portrays these developments in much too narrow of a way — as “yet another chapter in the demise of these digital-media companies that raised money at sky-high valuations nearly a decade ago only to struggle amid a volatile ad market and a decline in traffic[.]”
That’s not the half of it.
If you take a good look around at the corporate media landscape, online and elsewhere, the wheels are coming off all over.
The corporate/establishment/leftist media are collapsing, and it is freakin’ glorious.
CNN has fallen off a ratings cliff.
The Los Angeles Times is losing about $40 million a year, cutting nearly a third of its staff over two recent layoffs.
The Washington Post slashed staff and lost nearly $100 million in 2023.
BuzzFeed laid off 15 percent of its staff and closed BuzzFeed News entirely.
Vice Media filed for bankruptcy in 2023.
Sports Illustrated shut down.
The Vogue, Vanity Fair, and Condé Nast layoffs are coming.
Jezebel closed.
Best of all, 2,681 liars lost their jobs in 2023, more than the previous two years combined.
Get a load of this…
BuzzFeed went public in 2021, valued at $1.7 billion, and lost 97 percent of its value in the few years since. Now, BuzzFeed is selling its parts, starting with its food sites. According to the report, Tasty and First We Feast had “been a key component of BuzzFeed’s efforts to generate revenue streams beyond advertising” through merchandise.
My take? BuzzFeed is so desperate for cash that it’s forced to sell one of its few remaining popular verticals.
Vice Media went from being valued at $5.7 billion to being unable to pay its bills, filing Chapter 11, no one wanting to purchase it, and now that garbage site is valued at just $350 million. And like BuzzFeed, it’s selling off its parts, in this case, “Refinery29, which saw a decrease in revenue to $30 million last year from around $50 million in 2022, according to people familiar with the matter.”
A mere four years ago, Vice purchased Refinery29 for — wait for it, wait for it — $400 million. So Vice paid $400 million for Refinery29 in 2019, and now Vice itself is valued at less than that, at $350 million.
This is the not-so-slow-motion collapse of an ideology and attitude.
At long last, this young, ignorant, smarter-than-thou, know-it-all, effete, smug way of delivering news and lifestyle content has run its course. People are sick of the attitude, sick of being lied to, sick of being told how to live, how to speak, what to believe, and what does and does not make you virtuous.
The left’s rotting corpse institutions, including the media, Hollywood, and academia, are all facing an overdue reckoning. Take notice because these are joyous times.
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