News about Jonah Peretti

On Monday, Vice Media Group, a leader on magazines such as Vice and Motherboard, filed for bankruptcy insurance to engineer its transfer to a consortium of lenders, capping years of financial hardships and top-executive departures. The lender consortium, which includes Fortress Investment Group, Soros Fund Management, and Monroe Capital, will make a credit bid for significant portions of the company's assets and assume significant liabilities at closing, according to Vice. Creditors can trade their secured debt for the company's assets rather than paying cash for the company's assets under a credit offer.

According to a recent memo sent by the company's CEO, the Pulitzer Prize-winning Buzzfeed News brand will cease operations. 'We're downsizing our workforce by nearly 15% today across our Business, Content, Engineering, and Admin teams, as well as the process of ending BuzzFeed News,' owner Jonah Peretti said in the email.'