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BuzzFeed News shutting down

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BuzzFeed Inc. is shuttering BuzzFeed News.

BuzzFeed CEO and co-founder Jonah Peretti said the move is part of a 15% workforce reduction companywide.

"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," Peretti said.

Read more from NBC News.

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