Vice Media Group is beginning a process of staff terminations and canceling its signature series "Vice News Tonight," initially on HBO and now Vice TV, Deadline reported Thursday.
In a statement, Vice Media Group co-CEOs Bruce Dixon and Hozefa Lokhandwala revealed the moves were a "response to the current market conditions and business realities."
"To be incredibly clear, Vice News is core to Vice Media Group and fundamental to our business," the pair wrote. "We are not exiting the news business, but we are changing the shape of Vice News to position the whole company for long-term opportunities and improve how we deliver important, groundbreaking journalism well into the future."
Among those affected by the cutbacks was Brendan Kennedy, vice president of development and documentary acquisitions for Vice News, as well as Vice News editor-in-chief Michael Learmonth.
The company will also be scaling back the audio team, ending its short-form video production, and folding the digital team into its publishing division. Katie Drummond will continue to oversee the Vice Digital brands.
"Vice News Tonight" aired over 1,000 episodes over nearly seven years. The newscast won a Peabody for its coverage of the Charlottesville, Virginia, Unite the Right rally, and the ensuing violence in 2017. Between 2018 and 2022, the show was the most Emmy-nominated newscast.
The news comes one week after BuzzFeed announced that it would be closing down BuzzFeed News, a move primarily attributed to a downturn in the online advertisement market.
"While layoffs are occurring across nearly every division, we've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization," BuzzFeed chief executive Jonah Peretti informed staffers.
"Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience," he added.
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