BuzzFeed Inc. is exploring strategic options to help offset financial challenges and that there is “substantial doubt” about the media company’s ability to stay in business.
“While we’ve significantly reduced operating costs and real estate obligations, we’re still facing legacy commitments that are burdening the business,” Chief Financial Officer Matt Omer said in a statement on Thursday (12 March 2026). “We’re exploring strategic options to complete the work we started years ago and position the company to operate profitably on a sustainable basis.”
The media company reported its fourth-quarter financial results on Thursday, but said it was withholding guidance for 2026 as it considered these opportunities.
BuzzFeed, which owns news outlet HuffPost and the Tasty cooking website, has struggled financially since going public in 2021. The BuzzFeed site was once a go-to destination for viral quizzes, news, video content, recipes and lifestyle tips.
“We believe there is a gap between the value of our individual assets and our market capitalisation that suggests significant unrecognised upside,” founder and Chief Executive Officer Jonah Peretti said. “In 2026, our focus is demonstrating the value of our brands, Studio IP, and new AI apps to the market, and we’re actively exploring strategic options to close that value gap.”
Three years ago, BuzzFeed had $180 million in debt, which Omer said has been reduced by more than 65%. Still, BuzzFeed has struggled to achieve profitability and has used cash from operations to grow. In 2025, the company had a loss of $57.3 million, with cash and equivalents of $8.5 million and a deficit of $679.6 million, according to results released on Thursday.
BuzzFeed increased an asset-backed loan by $5 million to $45 million. Lenders to that loan agreed to extend the due date of a $5 million payment of that loan to 30 April from 20 February.
Without a plan to address its capital needs, BuzzFeed said that it anticipates not having enough resources to fund its cash obligations for the next 12 months after 16 March.
The shares tumbled 16% in extended trading in New York. After years of losses, BuzzFeed’s market capitalisation has slid to $27 million, down from a peak of more than $1 billion.
Former presidential candidate and biotech entrepreneur Vivek Ramaswamy amassed an 8.9% stake in the company in 2024, sending its shares to their highest level in a year and called for it to add new board members and hire popular media personalities like Tucker Carlson and Charles Barkley.
