09:29 AM EDT, 05/28/2024 (MT Newswires) -- (Adds Buzzfeed's comment in fourth paragraph)

BuzzFeed ( BZFD ) is facing calls for "large-scale" job cuts, board changes, and more conservative voices from former Republican presidential candidate and investor Vivek Ramaswamy, Bloomberg reported Tuesday, citing a letter to the company's board.

Ramaswamy, who recently acquired an 8% stake in the company, urged BuzzFeed ( BZFD ) to refocus on online videos and to feature personalities like Candace Owens, Tucker Carlson, and Aaron Rodgers. He also criticized the company for publishing allegedly unverified or inaccurate reports and called for a public apology, the letter reportedly said.

He did not name the three directors he wants to nominate but requested a meeting with the board within weeks and action on the nominations by July 15, according to Bloomberg.

"I'm very skeptical it makes business sense to turn BuzzFeed ( BZFD ) into a creator platform for inflammatory political pundits. And we're definitely not going to issue an apology for our Pulitzer Prize-winning journalism," BuzzFeed ( BZFD ) CEO Jonah Peretti said in a letter in response to Ramaswamy viewed by MT Newswires.

Ramaswamy could not be immediately reached.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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