Deadspin’s entire staff has been laid off after the sports site was sold to a startup
By Liam Reilly, CNN
(CNN) — Deadspin, the irreverent sports and news site best known for its commentary and analysis, laid off all of its staff on Monday after the outlet was sold to a startup firm.
In a memo to staffers, Jim Spanfeller — the chief executive of G/O Media, Deadspin’s parent company prior to the sale — wrote that it had been approached by the European firm Lineup Publishing, a newly formed digital media company, looking to add Deadspin to its growing media holdings.
After some consideration, G/O Media’s board decided to accept Lineup Publishing’s offer, Spanfeller wrote, adding that G/O Media wasn’t actively shopping Deadspin at the time.
“The rationale behind the decision to sell included a variety of important factors that include the buyer’s editorial plans for the brand, tough competition in the sports journalism sector, and a valuation that reflected a sizable premium from our original purchase price for the site,” Spanfeller wrote.
“Deadspin’s new owners have made the decision to not carry over any of the site’s existing staff and instead build a new team more in line with their editorial vision for the brand,” Spanfeller continued.
A G/O Media spokesperson confirmed that 11 Deadspin staffers were impacted by the move on Monday. The terms of the sale were not disclosed.
Though Spanfeller said Lineup Publishing had praised Deadspin’s “unique voice,” he said that the outlet’s new owners intended to “take a different content approach regarding the site’s overall sports coverage.” This “unfortunately” included parting ways with staff members who were notified early Monday, he wrote.
In an all-hands December meeting, Spanfeller noted G/O Media had been actively reviewing its portfolio and operations to prioritize resources.
Last year, G/O Media also sold Jezebel to Paste Magazine after briefly shutting down the publication and laying off its entire staff. That deal, too, was described as “incredibly fast.” While the outlet’s website resumed publication shortly thereafter, it returned with a slimmer staff.
The slashing of Deadspin’s staff is the latest in what so far has been a tumultuous year for the news media.
In the first three months of 2024 alone, The Messenger has shut down, BuzzFeed cut 16% of its remaining staff, and Vice Media laid off hundreds of employees as it ceased to publish on its website. TIME also laid off 15% of its unionized editorial staff and The Los Angeles Times cut over 20% of its newsroom staff. Meanwhile, at Condé Nast, staffers walked off the job, protesting layoffs, and staffers at The New York Daily News and Forbes staged a walkout.
The hemorrhaging in newsrooms around the country comes as outlets struggle to contend with an eroding advertising business, plummeting social media referral traffic and the looming threat of artificial intelligence.
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