From the Daily Caller News Foundation

By JASON COHEN

Former Republican presidential candidate and businessman Vivek Ramaswamy purchased an activist stake in BuzzFeed, according to a May Securities and Exchange Commission filing.

Ramaswamy purchased a 7.7% stake consisting of 2.7 million shares between March 14 and May 21 at costs ranging from $1.47 to $2.51 per share, according to the filing. The businessman asserted in the filing that he feels the company’s shares are “undervalued and represent an attractive investment opportunity.”

Ramaswamy “will seek to engage in a dialogue with the Issuer’s Board of Directors (the “Board”) and/or management about numerous operational and strategic opportunities to maximize shareholder value, including a shift in the Company’s strategy,” according to the filing.

Buzzfeed has been laying off employees since late 2022 as it has struggled with digital advertising, according to The Associated Press. The company closed down its BuzzFeed News in early 2023.

The company also recently reported a loss of $35.7 million in the first quarter of 2024 as advertising revenue plunged 22%, according to the AP.

“It’s an interesting bet,” an individual who is close to Ramaswamy told Mediaite. “Vivek, the anti-woke warrior, buying a material stake in one of America’s most woke media entities would signal to this long time investor that he intends to make it a free speech platform … If he turns it around financially, he would have serious street cred for another conservative political move.”

Ramaswamy in January suspended his presidential campaign and endorsed former President Donald Trump as the 2024 Republican nominee. The businessman also recently visited Trump at the New York courthouse where he is currently on trial.

“The most remarkable part was the one thing you get from being in that courtroom is a sense of the depressing atmosphere, which matches the depressing nature of what’s happening in there. It’s sort of like a concrete poem for the decline of America, actually. You get like a third-world visual, atmospheric courtroom, open wires sticking out, temperature regulation nonexistent, stuffy air a thick scent. And in the same place is happening. It’s not just third-world atmospherics, but a third-world proceeding,” Ramaswamy told the Daily Caller.

Online news outlet The Messenger shut down in January after less than a year of operations; the outlet started out with $50 million in May 2023, but it was hemorrhaging tens of millions of dollars while only taking in about $3 million in revenue last year. The Washington Post planned to eliminate roughly 240 jobs as of December 2023 amid its financial struggles and NPR has similarly been laying off workers since 2022.

BuzzFeed and Ramaswamy did not immediately respond to the Daily Caller News Foundation’s request for comment.

From the Canadian Taxpayers Federation

Author: Franco Terrazzano

The Canadian Taxpayers Federation filed a complaint with the Office of the Information Commissioner after the CBC refused to disclose 2023 bonuses for its eight senior executives until days after its President Catherine Tait is scheduled to appear at a parliamentary committee.

“This reeks of the CBC trying to conceal its senior executive bonuses so Tait doesn’t have to talk about it when she testifies at a parliamentary committee,” said Franco Terrazzano, CTF Federal Director. “The CBC is required to follow access to information laws and this nonsense delay is a blatant breach of the law.

“If Tait and her executives think they deserve their bonuses, they should be open and honest about it with taxpayers.”

The CBC proactively discloses certain information related to executive compensation in its annual reports. However, because the annual report lumps together salary and other benefits, Canadians don’t know how much the CBC’s eight senior executives take in bonuses.

Other Crown corporations have provided the CTF with access-to-information records detailing senior executive bonuses. For example, the Canada Mortgage and Housing Corporation paid out $831,000 in bonuses to its 10 senior executives in 2023. The Bank of Canada paid out $3.5 million in bonuses to its executives in 2022.

On March 11, 2024, the CTF filed an access-to-information request seeking details on the compensation paid out to CBC’s eight senior executives in 2023, including bonuses.

On April 9, 2024, the CBC issued a 30-day extension notice.

The new deadline for the CBC to release details on senior executive bonuses is May 10, 2024, just days after Tait is scheduled to appear at committee on May 7, 2024.

In response to a previous access-to-information request, the CBC released to the CTF records showing it paid out $15 million in bonuses to 1,143 non-union staff in 2023. The CBC did not issue an extension notice on that request.

“Tait is wrong to hide the cost of bonuses for CBC’s eight senior executives from the Canadians who pay their cheques,” said Terrazzano. “Tait must do the right thing and confirm to the parliamentary committee that she will cancel CBC bonuses.”

The CTF filed the complaint with the Office of the Information Commissioner on May 3, 2024, regarding the CBC’s delay in releasing documents regarding senior executive bonuses.

“The CBC is legally obligated to release the bonus documents days after the parliamentary committee hearing so obviously Tait has the details readily at hand,” said Terrazzano. “If MPs ask for those details, she needs to answer.

“And just to be clear, the CTF is fine with the CBC releasing this information at committee or anywhere else.”