BuzzFeed鈥檚 stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he鈥檚 taken an activist stake in the beleaguered media company in a bid to adjust the firm鈥檚 strategy.
Shares of BuzzFeed gained more than 20 per cent on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7 per cent stake in the company. The stock popped more than 82 per cent earlier at its highs.
鈥淪tay tuned,鈥 Ramaswamy told CNN through spokesperson Tricia McLaughlin.
BuzzFeed did not immediately respond to CNN鈥檚 request for comment.
Ramaswamy 鈥渂elieves the securities of the Issuer are undervalued and represent an attractive investment opportunity,鈥 the filing.
He also seeks a 鈥渟hift in the Company鈥檚 strategy,鈥 the filing said.
Shares of BuzzFeed have plummeted roughly 92 per cent since its initial public offering in 2021, though it remains above its record low closing price of 67 cents per share.
BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.
The company in February sold Complex Networks for $108.6 million, after purchasing it for $300 million three years ago, as part of its effort to slash costs while improving the company鈥檚 profitability. BuzzFeed鈥檚 portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its 鈥淗ot Ones鈥 YouTube series.
Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company鈥檚 headcount by 15 per cent.
Republicans on Sunday sought to distance themselves from Donald Trump's latest insults of Democratic nominee Kamala Harris during a rambling weekend rally in Wisconsin in which he called her 'mentally disabled.'
Two and a half years after losing her best friend and first love to suicide, Brooke Ford shared her story of grief and resilience at the CMHA Windsor-Essex Suicide Awareness Walk.
The government has just weeks to decide if it will meet the $16-billion demand from the Bloc Qu茅b茅cois to stave off an election for a few more months, but the stipulation may be at odds with the political and fiscal plans of the Liberals.
An Ottawa driver has been charged with stunt driving after being caught going 154 km/h on Highway 417, according to the Ontario Provincial Police (OPP).
Migrant groups are pushing the federal government to reverse its cap on international study permits and tightening post-graduate work permit qualifications, claiming it will leave many students 'in limbo.'
WeightWatchers CEO Sima Sistani, who pushed the company into embracing weight-loss drugs, is leaving the position after a two-and-a-half year stint.
The Tax-Free Savings Account can be a powerful savings tool and investment vehicle. Financial contributor Christopher Liew explains how they work and how to take full advantage of them so you can reach your financial goals faster.
This Monday, Sept. 30 is the National Day for Truth and Reconciliation (NDTR), a federal statutory holiday and day of remembrance for the Indigenous children who never came home from Canadian residential schools, as well as those who survived them.
When a few weeks passed and Nana Prempeh still hadn鈥檛 heard from the guy she met on vacation, she turned to her friends for advice.
A commemorative rally marking the fourth anniversary of Joyce Echaquan鈥檚 death will take place in Ville-Marie on Saturday afternoon.
Alberta's premier spoke to calls for an outside, independent investigation into the death of Jon Wells during an incident involving Calgary police last week.
The union representing longshore workers at the Port of Montreal says work at two terminals could come to a standstill next week as the union served a 72-hour strike notice today.
A child was sent to hospital after being attacked by a coyote in northwest Calgary.
Two and a half years after losing her best friend and first love to suicide, Brooke Ford shared her story of grief and resilience at the CMHA Windsor-Essex Suicide Awareness Walk.
Toronto police are urging anyone with information, including video footage, to contact them after a man was fatally stabbed in north Scarborough on Saturday evening.
Tim Walz and JD Vance might have the chance to reshape the political landscape Tuesday in their first and only debate.
Riding in a black SUV with tinted windows, lawyer Mariel Colon rolls up to the gates of a remote mansion, strolling past a security guard side-by-side with Emma Coronel, the wife of notorious drug lord Joaqu铆n 'El Chapo' Guzman.
Newly emerged film footage of U.S. President John F. Kennedy's motorcade speeding down a Dallas freeway toward a hospital after he was fatally wounded sold at auction Saturday for US$137,500.
Republicans on Sunday sought to distance themselves from Donald Trump's latest insults of Democratic nominee Kamala Harris during a rambling weekend rally in Wisconsin in which he called her 'mentally disabled.'
Russia's top diplomat warned Saturday against 'trying to fight to victory with a nuclear power,' delivering a UN General Assembly speech packed with condemnations of what Russia sees as Western machinations in Ukraine and elsewhere 鈥 including inside the United Nations itself.
The Freedom Party was headed for the first far-right win in a national parliamentary election in post-World War II Austria on Sunday, finishing ahead of the governing conservatives after tapping into voters' anxieties about immigration, inflation, Ukraine and other issues, a projection showed. But its chances of governing were unclear.
Migrant groups are pushing the federal government to reverse its cap on international study permits and tightening post-graduate work permit qualifications, claiming it will leave many students 'in limbo.'
The government has just weeks to decide if it will meet the $16-billion demand from the Bloc Qu茅b茅cois to stave off an election for a few more months, but the stipulation may be at odds with the political and fiscal plans of the Liberals.
Gov. Gen. Mary Simon insists her lack of French language proficiency does not hinder her ability to represent Canadians, after several Quebec politicians this week criticized her for not yet being fluent in the language, three years after her appointment.
A man from Alberta has been at the Medipal International Hospital in Kampala, Uganda for over two months with a hefty medical bill. He says he can鈥檛 leave until it鈥檚 been paid for.
More than 550 symptomatic people responded to an online questionnaire about a gastrointestinal illness at a Prince Edward Island shellfish festival last weekend.
A partial masking mandate has returned to Nova Scotia hospitals and provincially run healthcare facilities for visitors and healthcare workers.
Canadian innovators and technical leaders gathered in Ottawa Thursday to demonstrate the latest cutting-edge technology.
SpaceX launched a rescue mission for the two stuck astronauts at the International Space Station on Saturday, sending up a downsized crew to bring them home but not until next year.
Trees haven't grown on the Falkland Islands for thousands of years. But tree trunks and branches preserved in peat suggest the islands were once home to a forest.
Given the sudden popularity of Moo Deng, the Thai national treasure whose name roughly translates as 'bouncy pork,' it was only a matter of time before someone turned her into a digital asset.
As Sarah McLachlan, Tom Cochrane and members of Blue Rodeo were ushered into the Canadian Songwriters Hall of Fame on Saturday, each took a moment to recognize that writing great music usually comes with incredible struggle.
'Saturday Night Live' began its 50th season with a parade of former co-stars, including Maya Rudolph as U.S. Vice President Kamala Harris, Andy Samberg as her husband Doug Emhoff and Dana Carvey as U.S. President Joe Biden.
A strike by grain terminal workers at the Port of Metro Vancouver has ended, their employer announced Friday night.
When Annie Korver sits down with a new corporate or small business client, she encourages them to focus first on the 'truth' part of Truth and Reconciliation.
The U.S. Department of Transportation said Friday it had fined Air Canada US$250,000 for operating flights in 2022 and 2023 in prohibited Iraqi airspace.
The Tax-Free Savings Account can be a powerful savings tool and investment vehicle. Financial contributor Christopher Liew explains how they work and how to take full advantage of them so you can reach your financial goals faster.
Matt Perrault has shipped animals in and out of Canada on behalf of owners for more than two decades, handling creatures ranging from birds to bearded dragons, rabbits and ferrets.
It's often said there is a thin line between love and hate, but is it OK to sometimes hate your long-term partner? If you ask actress Jamie Lee Curtis, it's practically necessary.
When the key to a win is work ethic, it is not surprising to see Mattias Ekholm rise to the occasion. Ekholm had a goal and two assists as the Edmonton Oilers snapped a three-game skid with a 5-4 victory over the Seattle Kraken on Saturday.
On an eventful Saturday at the Presidents Cup, the U.S. took an 11-7 lead over an International team that saw big performances from the world's No. 1 ranked golfer, Scottie Scheffler.
The Toronto Raptors have confirmed that Vince Carter's No. 15 will be the first number to be retired by the NBA franchise.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.
More than 12,000 vehicles in Canada are included in two separate recalls by Toyota Motor Corp. and Mazda.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.
Sarah McLachlan is returning to her hometown of Halifax in November.
Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.
A man from a small rural Alberta town is making music that makes people laugh.
An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
British Columbia saw a rare unanimous vote in its legislature in October 2019, when members passed a law adopting the United Nations Declarations on the Rights of Indigenous Peoples, setting out standards including free, prior and informed consent for actions affecting them.
Matt Perrault has shipped animals in and out of Canada on behalf of owners for more than two decades, handling creatures ranging from birds to bearded dragons, rabbits and ferrets.
It wasn鈥檛 the way the Vancouver Whitecaps wanted to clinch a playoff spot.
A large crowd of people hoping to collect a piece of Toronto history gathered outside the ;Leslieville dollhouse' Sunday, as the new owners of the beloved east-end home gave away the dolls, toys, knick-knacks, and teddy bears that covered the property.
One person was injured in a stabbing at Moss Park early Sunday morning, Toronto police say.
Gov. Gen. Mary Simon insists her lack of French language proficiency does not hinder her ability to represent Canadians, after several Quebec politicians this week criticized her for not yet being fluent in the language, three years after her appointment.
A child was sent to hospital after being attacked by a coyote in northwest Calgary.
Alberta's premier spoke to calls for an outside, independent investigation into the death of Jon Wells during an incident involving Calgary police last week.
Migrant groups are pushing the federal government to reverse its cap on international study permits and tightening post-graduate work permit qualifications, claiming it will leave many students 'in limbo.'
A 23-year-old man sustained serious, but non-life-threatening injuries following a dispute with another man Saturday night at a bar in Gatineau, Que., police say.
A near perfect replica of Lighting McQueen came to Hardy Park in Brockville, Ont. for a meet and greet.
The 47th annual Canadian Police and Peace Officers' Memorial Service is taking place Sunday in the capital.
Provincial police (SQ) say a head-on crash on Highway 30 in Candiac has left two people dead.
A new Crave original series inspired by Leonard Cohen's iconic song "So Long, Marianne" delves into the complex love story between the renowned songwriter and his muse, Marianne Ihlen.
Some small Quebec municipalities are considering reducing the size of their city councils due to the challenges of recruiting candidates to run for office.
This Monday, Sept. 30 is the National Day for Truth and Reconciliation (NDTR), a federal statutory holiday and day of remembrance for the Indigenous children who never came home from Canadian residential schools, as well as those who survived them.
Kim Ruether lifted her son's eyelid and saw his still, dilated pupil staring at the ceiling as he lay on a stretcher in a northwestern Alberta hospital hallway a decade ago. She says she didn't need a doctor to tell her the boy was dead.
When the key to a win is work ethic, it is not surprising to see Mattias Ekholm rise to the occasion. Ekholm had a goal and two assists as the Edmonton Oilers snapped a three-game skid with a 5-4 victory over the Seattle Kraken on Saturday.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people鈥檚 basic human right to food.
Team U.S.A. is the winner of the Pan American Black Bass Championship, which attracted some of the world鈥檚 best anglers to Nackawic and Fredericton this past week.
Saint John, N.B., fighter Christien Savoie is competing for a potential UFC contract in Las Vegas in October.
As the temperatures begin to drop and the leaves change colour, the time for fall suppers has returned in Manitoba.
Hundreds gathered in Winnipeg鈥檚 Memorial Park Saturday afternoon in a solemn ceremony honouring the lives of fallen firefighters.
Vintage collectors from all corners of Canada gathered at Assiniboia Downs Saturday to shop and show off a variety of trinkets and treasures.
The Town of Lumsden held their ninth annual Scarecrow festival Saturday.
The Saskatchewan Roughriders moved into second place in the CFL's West Division with a 29-16 victory over the Ottawa Redblacks on Saturday.
Minister of Health Everett Hindley wrote to healthcare provider unions on Friday inviting them to join a nursing task force, something the government previously said no to.
People in Guelph may notice a new addition at the entrance to Franchetto Park in Guelph.
A young motorcyclist has been taken to an out-of-region hospital after a single vehicle crash in Woolwich Township.
On Saturday evening just before 8:00 p.m., emergency responders were on the scene of a two-vehicle collision at the intersection of 17th Line and 19th Line.
Fire crews responded to a structure fire on the 300 block of Ave N South Saturday evening.
Saskatoon Police Service has arrested a suspect in connection with two separate stabbing incidents that occurred earlier this month.
Minister of Health Everett Hindley wrote to healthcare provider unions on Friday inviting them to join a nursing task force, something the government previously said no to.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
The CEO of the Ottawa Mission is responding to controversial comments made this week by Premier Doug Ford about those living in homeless encampments that received swift blowback from advocates.
The government has just weeks to decide if it will meet the $16-billion demand from the Bloc Qu茅b茅cois to stave off an election for a few more months, but the stipulation may be at odds with the political and fiscal plans of the Liberals.
On Friday, police in Sarnia say that they were sent to a hydro compound on Confederation Street following security alarms being triggered.
On Saturday, just before 10:00 p.m., police were called to the intersection of Richmond and Huron Streets for a welfare check.
The fourth annual National Day for Truth and Reconciliation in Canada is on Monday, Sept. 30.
A pedestrian has died after reportedly getting struck by an OPP cruiser in Bala early Sunday morning.
South Simcoe Police are investigating a fatal collision in Innisfil that occurred early Saturday morning involving a car and a motorcycle.
Members of the Southern Georgian Bay OPP and the Canadian Anti-Fraud Centre (CAFC) are sounding the alarm on a rising number of online and phone scams targeting residents.
Two and a half years after losing her best friend and first love to suicide, Brooke Ford shared her story of grief and resilience at the CMHA Windsor-Essex Suicide Awareness Walk.
The BSI aims to elevate Black academic excellence, promoting scholarship, mentorship, and cultural knowledge.
The fourth annual National Day for Truth and Reconciliation in Canada is on Monday, Sept. 30.
British Columbia saw a rare unanimous vote in its legislature in October 2019, when members passed a law adopting the United Nations Declarations on the Rights of Indigenous Peoples, setting out standards including free, prior and informed consent for actions affecting them.
A man was found dead in a home in the Ditidaht First Nation on Vancouver Island Saturday morning, prompting local council to ask residents to shelter in place.
For decades, Melven Jones couldn鈥檛 talk about what happened to him as a child. He didn鈥檛 even remember it.
Fire crews in Vernon, B.C., responded to a large house fire early Saturday morning.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
The sentencing for three men convicted of helping lead and coordinate the COVID-19 protest blockade at Coutts, Alta., in 2022 has been delayed.
A 10-year-old boy from Lethbridge is being praised as a hero after a routine summer outing at the pool nearly turned tragic for his friend.
A man and woman have been charged after a Lethbridge ice creamery was broken into earlier this week. Staff arrived at Cookie Crimes, in the 300 block of Sixth Street South, just before 5:30 a.m. on Monday to discover the front window broken.
Sault residents may notice some commotion on the Algoma University campus over the next two weeks as a team conducts an archaeological search.
The Pride crosswalk in downtown Sault Ste. Marie, Ont., has been hit by vandalism for the second time in less than three months.
Despite a lead at mid-game in front of a near-capacity home crowd, the Sudbury Wolves dropped their first game of their OHL regular season to Barrie, 3-1.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people鈥檚 basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
Newfoundland and Labrador sponsored a minor football team in England, now they鈥檙e about to play one of the biggest clubs in European soccer.
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