Posted 1/26/2024, 4:27:00 PM
Media Industry Turmoil: Layoffs, Cutbacks, Potential Sales Amid Economic Uncertainty
- Legacy media outlets struggling financially due to high interest rates and inflation
- Over a dozen outlets firing workers, dealing with strikes, or looking to sell/merge
- Los Angeles Times, Forbes, Insider, New York Daily News announcing layoffs
- Paramount planning more layoffs to cut costs and considering a sale/merger
- Washington Post, BuzzFeed, CNET also cutting jobs or looking to unload assets