The changes mark the latest shakeup at Vice, a former media darling that has struggled to live up to its lofty valuation. In February, Vice said Nancy Dubuc was leaving the company after five years as CEO.
Digital media companies are struggling as advertisers pull back from spending in an uncertain economy, and their remaining dollars go mostly to tech giants like Facebook and Google. Journalism can be expensive and less profitable than other forms of online content, making the business an easy target for cost-cutting.
Last week, BuzzFeed Inc. shut down its news operation, and online publisher Insider Inc. said it’s cutting about 10% of its staff.
—Bloomberg News
