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Tags: daily beast | reductions | buyouts | media | bias | liberals | activist

Daily Beast Cutting Staff Through Buyouts

By    |   Tuesday, 28 May 2024 12:17 PM EDT

The Daily Beast's new leadership is reducing staff through buyouts.

Sources familiar with the issue say the news website is accepting buyout applications in an attempt to reach its goal of $1.5 million in reductions, The New York Times' Ben Mullin reported Tuesday.

There will be additional reductions beyond the $1.5 million, as this first stage of the plan includes only those buyout reductions related to the guild.

The move comes one month after Ben Sherwood and Joanna Coles signed an agreement to lead The Daily Beast under which the media veterans were granted a minority stake in the news and opinion site, Variety reported.

According to the deal, Sherwood serves as the publisher and CEO, while Coles is the site's chief creative and content officer.

The two also "share a substantial interest in the company," IAC said, although specific financial terms of the agreement were not disclosed, Variety reported.

The deal comes after former Daily Beast CEO Heather Dietrick left the company at the end of last year to join Outside Interactive as chief media officer.

Brian Freeman

Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.

© 2024 Newsmax. All rights reserved.


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The Daily Beast's new leadership is reducing staff through buyouts.
daily beast, reductions, buyouts, media, bias, liberals, activist, fake news
178
2024-17-28
Tuesday, 28 May 2024 12:17 PM
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