BuzzFeed Explores Strategic Options to Stave Off Insolvency

BuzzFeed Inc. said it’s exploring strategic options to help offset financial challenges and that there is “substantial doubt” about the media company’s ability to stay in business.

“While we’ve significantly reduced operating costs and real estate obligations, we’re still facing legacy commitments that are burdening the business,” Chief Financial Officer Matt Omer said in a statement. “We’re exploring strategic options to complete the work we started years ago and position the company to operate profitably on a sustainable basis.”