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.

Vice Presidential Pick Announcement

Vice President Kamala Harris is expected to announce her vice presidential pick ahead of a rally in Philadelphia. The decision is highly anticipated and the rollout is expected to include digital video, social media components, and fundraising appeals.

BuzzFeed's Stock Soaring After Vivek Ramasamy's Stake Acquisition

BuzzFeed's stock soared after Vivek Ramasamy acquired a 7.7% stake in the company and announced plans to adjust the firm's strategy, believing the securities are undervalued.

The Rise and Fall of Vice Media

Vice Media, once valued at $5.7 billion, went bankrupt and was saved by its founder, Shane Smith, who convinced Fortress Investment Group to buy the company for $350 million. The company struggled due to a highly leveraged capital structure and over-reliance on advertising revenue. Despite being a pioneer in digital media, Vice faced financial challenges and laid off over 100 journalists.

Digital Media Industry Challenges

Vice Media and BuzzFeed are facing financial struggles and significant layoffs as they try to survive in the changing digital media landscape.

Acquisition of Complex by NTWRK

NTWRK, a live-stream online shopping platform, has acquired Complex, a digital media company focused on music, culture, and streetwear, from BuzzFeed for $108 million. The acquisition aims to leverage Complex's connection with hip-hop fans and sneakerheads to deepen relationships with high-profile musicians and artists, creating a new destination for 'superfan' culture.