BuzzFeed and Vice Media, two onetime darlings of digital media that have shrunk in size and relevance in recent years, are likely to get even smaller.
BuzzFeed, whose stock has lost more than 97% of its value since the company went public in 2021, is looking to sell its food sites, Tasty and First We Feast, according to people familiar with the situation. Meanwhile, Fortress Investment Group, which took over Vice in bankruptcy last year, is in talks to sell its Refinery29 women’s lifestyle-focused site, other people said.
The sale discussions mark 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 sourced from Google and social-media sites.