Vice Media plans to cut hundreds of jobs, stop publishing on flagship website

[brooklynite]

Source: NBC News

Vice Media Group plans to lay off hundreds of employees and stop publishing on its flagship news website, the company’s chief executive said in a memo to employees Thursday — a stunning setback for a digital media pioneer that ascended to cultural prominence more than a decade ago.

“It is no longer cost-effective for us to distribute our digital content the way we have done previously,” Vice CEO Bruce Dixon said in the memo, which was seen by NBC News. Vice Media did not immediately respond to emails requesting comment on Thursday’s news.

Dixon added that the company would now “look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model.”

Refinery29, the company’s women’s lifestyle brand, will continue to operate as a “standalone diversified digital publishing business,” Dixon said, though executives are in “advanced discussions to sell this business, and we are continuing with that process.” (Vice acquired Refinery29 in 2019.)

Read more: https://www.nbcnews.com/news/us-news/media-plans-cut-hundreds-jobs-stop-publishing-flagship-website-rcna139997

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Far too many people seem to think "news should be free".

[OAITW r.2.0]

1. Is McGuiness still involved with Vice?

Hard to believe that a website has a tough cost to publish. Another light goes dark.

More like, there is an economic incentive to wipe themselves off the internet.

[brooklynite]

2. "Hard to believe that a website has a tough cost to publish"

There's that pesky need to pay the reporters, tech crews, editors.....

[OAITW r.2.0]

3. OK, thanks for explaining Brooklynite. Those costs never occurred to me.