The following excerpt was sent out from deadline.com:
Vice Media Group announced that it was streamlining its news division, including layoffs and the cancelation of its signature newscast, Vice News Tonight.
Bruce Dixon and Hozefa Lokhandwala, co-CEOs of Vice Media Group, said that the changes were in “response to the current market conditions and business realities facing VMG and the broader news and media industry.”
“To be incredibly clear, Vice News is core to Vice Media Group and fundamental to our business. We are NOT exiting the news business, but we are changing the shape of Vice News to position the whole Company for long-term opportunities and improve how we deliver important, ground-breaking journalism well into the future,” they wrote.
The staff reductions are the latest to hit the news business, with both traditional and digital outlets hit by a downturn in the ad market.
Vice Media also is in the midst of efforts to sell or recapitalize. Nancy Dubuc exited as CEO of Vice Media Group in February.
Dixon and Lokhandwala said that Vice News would be streamlined to “focus on our growing digital video business and our News documentary and series production business for VTV and distribution partners worldwide.”
Vice News Tonight, which airs on Vice TV, will have its last broadcast in May, they said.
Dozens of staffers are affected by the cutbacks, according to a source familiar with the plans. Among those affected were Vice News editor-in-chief Michael Learmonth, chief political correspondent Elizabeth Landers, senior political reporter Cameron Joseph, senior editor Christina Sterbenz, national security reporter Ben Makuch, as well as audio journalist Sam Eagan. Also laid off was Brendan Kennedy, vice president of development and documentary acquisitions for Vice News.
Vice News is scaling back its audio team, although podcasts will continue to be produced, and Vice World News short-form video will be ended.
Read more here.
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