Exclusive: Jonah Peretti explains why he sold BuzzFeed

Just days before we spoke, BuzzFeed co-founder and CEO Jonah Peretti agreed to sell the company, which was losing money and at risk of shutting down. Now there’s a new lease on life — and new leadership. Jonah is taking on a new role as president of BuzzFeed AI, and Byron Allen will become CEO of BuzzFeed. 

That’s obviously a huge structural and organizational change, and a really big decision — prime Decoder bait if there ever was any. What are digital media companies doing to adapt and survive in an information landscape dominated by algorithmic social platforms?

Links: 

• Byron Allen is buying BuzzFeed and becoming CEO | Variety

• BuzzFeed issues going concern warning, lacks liquidity | Wall Street Journal

• BuzzFeed News is shutting down | The Verge

• BuzzFeed sells Hot Ones studio in $82.5M deal | NBC News

• The unbearable lightness of BuzzFeed | The Verge

• I hate myself because I don’t work for BuzzFeed (2015) | The Awl

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Credits:

Decoder is a production of The Verge and part of the Vox Media Podcast Network.

Decoder is produced by Kate Cox and Nick Statt; this episode was edited by Kabir Chopra. Our editorial director is Kevin McShane. 

The Decoder music is by Breakmaster Cylinder.

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