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Former GOP presidential candidate Vivek Ramaswamy may not, at the moment, be the major player in Republican politics that he started to become before dropping out of the Republican primary race in January, but he appears to have turned his sights toward American media, which he appears to want to make great again by increasing the platforms of some of the most ignorant and least informed talking heads in right-wing “news.”
According to Variety, Ramaswamy disclosed in a filing last week that he owns 7.7% of BuzzFeed’s stock, and in a letter dated May 27 to BuzzFeed’s board of directors, he said he now holds a 8.37% stake in the company “and I continue to increase my position.” And because he reportedly owns less than 9% of what Variety described as a failing media company’s stock, he has grand ideas about how he can improve the company as the self-proclaimed authority on how to turn a media company around, which includes firing the current staff and hiring people who aren’t very smart but definitely share many of his points of view.
“BuzzFeed has lost its way,” Ramaswamy wrote in the letter. “I own your stock because I believe BuzzFeed can still become a more valuable company than at its initial listing, but this requires a major shift in strategy.”
Now, to be fair, Ramaswamy isn’t only recommending that BuzzFeed hire conservative journalists and pundits, he wants the company to hire talent from “across the political and cultural spectrum.” Still, it’s pretty revealing that the examples of conservative voices he wants to see hired include Candace Owens, Tucker Carlson and Aaron Rodgers. Sure, it’s true that the pool of halfway smart right-wing pundits has more pee in it than the dating pool, but certainly Ramaswamy can do better than a MAGA mammy who thinks diversity is anti-white cisgender straight male supremacy (and that that’s a bad thing), an ex-Fox News host who got big mad because cartoon M&M mascots aren’t as “sexy” as they used to be, and an NFL quarterback who thinks he knows more than medical experts about the efficacy of vaccines.
Of course, it isn’t terribly surprising the Ramaswamy wants more factless, pseudointellectual bigots and buffoons at the helm of BuzzFeed’s media sites. This is, after all, the guy who nodded along like an idiot while loud and proud white nationalist Ann Coulter told him to his face that she would never have voted for him because “you’re an Indian.” Also, coming from the guy who thinks Juneteenth is a “redundant” holiday because MLK Day already exists—and is a proponent of the white nationalist “great replacement theory,” despite the fact that brown people like himself are the very people white conservatives are afraid of being replaced by—it isn’t surprising that he believes political diversity is much more important than racism diversity in a media company.
But the guy who baselessly claimed the Jan. 6 Capitol riot was an inside job and that critical race theory is a “secular religion” and also “psychological slavery for children” is now telling BuzzFeed it should “distinguish yourself from competitors by openly admitting your past journalistic failures and redefine BuzzFeed’s brand around the pursuit of truth,” not that he would know anything about truth or journalism.
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Source: Complex / Complex
Complex has named Aria Hughes as its new editor-in-chief and is bringing back Noah Callahan-Bever on the staff.
It’s a mix of the old and the new at Complex, which has promoted its editorial creative director Aria Hughes to editor-in-chief. The company is also bringing back former EIC and content chief Noah Callahan-Bever. Complex is also acquiring Callahan-Bever’s media company IdeaGeneration, which was created as an entity that “seeks to understand and explain how the greatest creators, innovators, and entrepreneurs come up with, develop and operationalize the ideas that move and impact society,” according to Complex.
Hughes has been at Complex since joining as a deputy style editor in 2019, going on to oversee the entire style vertical. The University of Maryland College Park graduate and former men’s editor at the fashion industry publication WWD became the platform’s editorial director in 2022. “It’s an honor to be named the editor-in-chief at a brand that’s so important to culture,” Hughes said via the press release. “I look forward to working with Noah and the team to help Complex grow, evolve, and connect more deeply with our audience.”
As for Callahan-Bever, who returns after a six-year hiatus, the former Def Jam executive vice president expressed his gratitude in a statement: “So, to be afforded the chance, thanks to CEO Aaron Levant, to revisit and reimagine my work at Complex — and to be able to do it in concert with one of the industry’s most inspiring emergent talents, Aria Hughes — while also injecting Idea Generation with the resources and infrastructure it needs to go the next level, with all of the aforementioned accomplices, is a professional gift for which the depths of my gratitude know no bounds.”
The two moves are the latest to be initiated by Complex since its acquisition by the Ntwrk media group from BuzzFeed in February in an all-cash deal of $106.8 million. The initial buy of Complex Networks (which included the First We Feast brand responsible for the popular online show “Hot Ones”) in 2021 cost BuzzFeed $294 million.
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BuzzFeed is selling off Complex Media to an e-commerce platform to firm up its financial footing and also announced company-wide layoffs.
According to reports, BuzzFeed has sold off Complex Media to the Ntwrk e-commerce platform. The group announced the sale on Wednesday (February 21), which cost $108.6 million in an all-cash deal. Universal Music Group will serve as a strategic partner in the deal, with Jimmy Iovine, Goldman Sachs, and Main Street Advisors serving as investors. The key franchises of Complex including First We Feast, and Hot Ones, will remain under BuzzFeed Inc.’s umbrella. Ntwrk released a video reel announcing the acquisition and their plans of the new company being “an e-commerce platform anchored in sneakers, streetwear and collectibles with content and music.”
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The deal also includes BuzzFeed receiving $5.7 million for Complex’s use of their New York offices in addition to “severance- and other employment-related costs.” BuzzFeed also announced that there would be a round of layoffs to reduce costs, expected to cull about 16% of remaining employees. It’s the second such round since last April when BuzzFeed closed its news division and let go of 180 employees.
“The sale of Complex represents an important strategic step for BuzzFeed Inc. as we adapt our business to be more profitable, more nimble and more innovative,” said BuzzFeed Inc. CEO Jonah Peretti in a press release. “This is also an opportunity to unlock greater value for the Complex brand by combining it with Ntwrk’s expansive commerce-driven business.” BuzzFeed originally acquired Complex Media in 2021 for a price tag of $294 million. The brand said it will provide further details on its restructuring on February 28.
“Complex has been a beacon of culture and innovation for over two decades,” Ntwrk co-founder Aaron Levant said in a statement. “My journey with Complex began as an admirer of their original magazine in 2002 and it has now come full circle as I step into the leadership role. Alongside this impressive team, we will create the definitive global content, commerce, and experiential platform of convergence culture.” Interscope Geffen A&M and Capitol Music Group have already declared intentions to work with the new company. “Combining the power and reach of Complex with the Ntwrk engine serving creators across music, fashion, and art will be transformative for the next generation of consumer technology,” Iovine said in a statement concerning the deal.
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