Media Industry Challenges in 2021

Media industry continues to face challenges as Ziff Davis acquires CNet from Red Ventures for $100 million, Broadcasting & Cable and Multichannel News shut down, and Axios lays off 50 employees due to the rapidly changing media landscape.

Sale of CNET to Ziff Davis by Red Ventures

Red Ventures is selling tech news and reviews site CNET to Ziff Davis for over $100 million in a deal that marks a significant shift for CNET. Ziff Davis, a publicly-traded digital marketing company, is set to acquire CNET, which Red Ventures purchased in 2020 for $500 million. This move reflects the changing landscape of digital media and services conglomerates in the U.S.