BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s 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.
“Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.
BuzzFeed did not immediately respond to CNN’s request for comment.
Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.
He also seeks a “shift in the Company’s strategy,” 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’s profitability. BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series.
Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15 per cent.
London put on a display of birthday pageantry Saturday for King Charles III, a military parade that marked the Princess of Wales ' first public appearance since her cancer diagnosis early this year.
Vancouver police are warning the public that the man who stabbed a stranger in a downtown coffee shop in January 2022 has been released and will be living in the city again.
The City of Calgary declared a local state of emergency Saturday morning in response to the latest developments in a major water main break that is impacting the city.
Prime Minister Justin Trudeau says he has concerns with how conclusions were gathered in a spy watchdog report.
A lucky lotto player in the Greater Toronto Area is waking up with millions more reasons to smile this morning.
Federal officials are investigating an unusual rolling motion during the flight of a Southwest Airlines Boeing 737 Max.
An explosion in southern Gaza killed eight Israeli soldiers, the military said Saturday, making it the deadliest attack on Israeli forces in months.
A 93-year-old woman has pleaded guilty to careless driving causing bodily harm in the crash that sent CTV News Kitchener reporter Stephanie Villella to hospital with life-threatening injuries last year.
36-year-old Daniel Callahan was arrested Thursday after a 35-year-old mother was found dead and her two abducted daughters were later discovered in Mississippi – one dead and the other alive – in what investigators say may be a human trafficking case.
The City of Calgary declared a local state of emergency Saturday morning in response to the latest developments in a major water main break that is impacting the city.
The armed standoff that created a large police presence on Manitoulin Island on Saturday morning has ended peacefully and one suspect is in custody, police confirmed to CTVNewsNorthernOntario.ca.
A lucky lotto player in the Greater Toronto Area is waking up with millions more reasons to smile this morning.
A Sudbury dog who is a member of the police canine unit accidentally ingested fentanyl Friday during a drug bust in the city.
Greg Fertuck has been found guilty of First Degree Murder and indignity to human remains in the death of his estranged wife.
Vancouver police are warning the public that the man who stabbed a stranger in a downtown coffee shop in January 2022 has been released and will be living in the city again.
London put on a display of birthday pageantry Saturday for King Charles III, a military parade that marked the Princess of Wales ' first public appearance since her cancer diagnosis early this year.
A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones' personal assets but dismissed his company's separate bankruptcy case, leaving the future of his Infowars media platform uncertain as he owes US$1.5 billion for his false claims that the Sandy Hook Elementary School shooting was a hoax.
Haitian leaders have ousted Frantz Elbe, the beleaguered director of Haiti’s National Police, following months of criticism that he wasn’t doing enough to protect officers under assault by gangs.
A judge has overturned the conviction of a Missouri woman who was a psychiatric patient when she incriminated herself in a 1980 killing that her attorneys argue was actually committed by a now-discredited police officer.
The United States military unleashed a wave of attacks targeting radar sites operated by Yemen's Houthi rebels over their assaults on shipping in the crucial Red Sea corridor, authorities said Saturday, after one merchant sailor went missing following an earlier Houthi strike on a ship.
Police in Maine have canceled a shelter-in-place order in the city of Auburn after reporting that an armed person was in an area where a series of explosions and a house fire erupted early Saturday.
Prime Minister Justin Trudeau says he has concerns with how conclusions were gathered in a spy watchdog report.
Leaders of the G7 countries say they are more concerned than ever about foreign interference and plan to create a 'collective response framework' to counter foreign threats to democracies.
Prime Minister Justin Trudeau plans to shine a spotlight on the plight of Ukrainian children abducted by Russia and call for their safe return when he attends a summit dedicated to establishing peace between the two countries Saturday.
Whooping cough cases are on the rise in parts of Ontario and experts are reminding parents to remain vigilant as the illness can be most dangerous to young children.
Health Canada issued a recall Friday for more nicotine pouches citing unauthorized sale in Canada.
The chief of a First Nation in northern Manitoba says its nursing station is operating at half-capacity, and as a result members are going without the care they need.
The mailings promised "Life Without Pain!" via stem cell injections or IVs administered in a patient's own home. The allure was obvious: more than 20 per cent of U.S. adults endure chronic pain.
Interbreeding between polar bears and grizzlies is not threatening the Arctic's polar bear population – at least not yet.
As AI-generated images have begun creeping into art and photography contests over the past two years, sometimes fooling jurors and provoking anxiety and anger among artists, the photographer Miles Astray decided it was time to turn the tides.
Ryan Seacrest will now be asking 'Wheel of Fortune' contestants if they’d like to buy a vowel.
Ben Affleck and Jennifer Lopez are not talking about their current relationship, but they have already said plenty.
Kate Winslet isn’t afraid to kiss and tell, even when it comes to one of the most famous on-screen kisses in cinematic history.
Once a shrine to the world's most popular soft drink, the building that housed the original World of Coca-Cola is going flat at the hands of Georgia's state government.
Online retailer Amazon is challenging the certification of a union representing about 200 employees at a Montreal-area warehouse.
The pandemic may have released us from the tyranny of the five-day-a-week office schedule. But the grip of America’s busy-work culture is proving harder to shake.
In honour of Father’s Day, CTVNews.ca asked notable Canadians from different backgrounds about their fathers and the stories, lessons and advice that they cherish. Here’s what they said.
A new Dartmouth, N.S., running club that celebrates "slow" is quickly drawing hundreds of members.
It began, seemingly, with a few innocuous social media posts comparing Mike Faist, co-star of the titillating tennis throuple film “Challengers,” to a dormouse and soon, the complexity of the analogy snowballed to odd levels of specificity.
Whether you call it Soccer or Football, this June will be a fantasy month for football fanatics across Canada and the world.
Water in the Seine River had unsafe elevated levels of E. coli less than two months before swimming competitions are scheduled to take place in it during the Paris Olympics, according to test results published Friday.
Lamine Yamal became the youngest player to appear in a European Championship as Spain’s new generation brushed aside Croatia’s challenge 3-0 in their opening game on Saturday.
In the face of pervasive auto theft in Toronto, some residents are looking to retractable bollards to stand between their vehicle and potential thieves.
Chrome’s century-long reign as that added bit of flash and glamour on new cars may be coming to an end. For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal.
Tesla shareholders approved CEO Elon Musk's US$56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an enticement for keeping his focus on his biggest source of wealth.
Fancy Pokket owner Mike Timani has decided to create a 220-foot long flat bread to celebrate its 35th anniversary.
If certain goals that are in the Paris Climate Accord aren't met, the existence of polar bears in the Hudson Bay may come to an end.
In an attempt to invite one of the most popular recording artists in the world to the land of living skies – the City of Swift Current has offered to rename itself in honour of Taylor Swift.
More than a dozen dogs arrived by Cargojet early Thursday morning to the People for Animal Wellbeing Shelter to find a permanent place to call home in New Brunswick.
Peggy's Cove, N.S., is one of the most famous locations in the Maritimes. Recent visitors were treated to more than just the iconic landmark.
Hundreds of fans lined up to meet the Trailer Park Boys in Dartmouth, N.S., Tuesday, as Ricky, Bubbles and Julian promoted their new brand of potato chips.
Car break-ins plague Canadians across the country, but instead of worrying about theft, a northern Ontario woman is cleaning up a big mess that she says will not be covered by insurance after a black bear broke into her Honda Civic and took a nap.
Members of a Hutterite colony in southern Alberta have potentially built the world's tallest structure made of Popsicle sticks.
A dog who spent the first three-and-a-half years of his life suffering and almost a year at a shelter has found his forever home, according to the BC SPCA.
A B.C. property manager who failed to collect a tenant's security deposit, wrote the wrong address on a tenancy agreement and failed to adequately enforce the property owners' desire to prohibit pets and smoking has been disciplined by the provincial real estate regulator.
Emergency responders are searching for a missing boater in Mission, but they believe it's unlikely he is still alive, according to local RCMP.
Victoria Mayor Marianne Alto says city council wants to prevent some of the issues faced by its most vulnerable citizens, rather than simply dealing with the aftermath, even if it means stepping outside of what's normally seen as a local government responsibility.
A teen has life-threatening injuries following a shooting in Scarborough's L'Amoreaux neighbourhood.
A lucky lotto player in the Greater Toronto Area is waking up with millions more reasons to smile this morning.
One person was taken to hospital after police in Oshawa came across a fight Friday evening and found one person with a stab wound.
The City of Calgary declared a local state of emergency Saturday morning in response to the latest developments in a major water main break that is impacting the city.
I love Alberta. That may sound obvious coming from someone who was born here, went to school here, and eventually became Premier.
Whether you call it Soccer or Football, this June will be a fantasy month for football fanatics across Canada and the world.
Environment Canada is asking residents in Ottawa to prepare for hot and humid weather conditions starting Monday, as it calls for temperatures reaching above 30 C.
Beach season is officially underway with both City of Ottawa and National Capital Commission (NCC) beaches opening this weekend.
It's that time of the year to take a road trip and explore the hidden gems around Ottawa, as the summer begins and temperatures rise.
A human smuggling ring recently dismantled by members of the RCMP was connected to the deaths of eight migrants who drowned in the St. Lawrence River while trying to cross illegally into the United States last year.
Several Quebec cities have announced the early opening of pools and water games, as a warm air mass and heat wave are expected to hit the province starting Tuesday.
Quebec swimmers Mary-Sophie Harvey and Patrick Hussey are hoping the hard work they put in pays off at the Olympic Games in Paris this summer.
An Edmonton man is dead after a crash south of the city on Friday night.
The City of Calgary declared a local state of emergency Saturday morning in response to the latest developments in a major water main break that is impacting the city.
A lack of production is a big reason the Oilers are down 3-0 in the series against the Florida Panthers and searching for answers as they look to avoid being the first team swept in the final since the Washington Capitals in 1998.
Ten people were arrested, drugs and cash were seized, after police executed a search warrant at a residence in Summerside, P.E.I.
The final day of Charlotte County’s Pride week feature a pride parade, queer market, and live performance by Elton John cover band.
Police are investigating after a vehicle left the roadway and went into a lake in Dartmouth, N.S., Saturday morning.
A new monument is set to be unveiled Saturday, as part of a ceremony honouring the victims of a fatal crash near Carberry, Man., exactly one year later.
Age may be just a number to George Steciuk, but it’s just one of many that add up to one inspirational athlete.
A first in the University of Winnipeg’s faculty of education was celebrated at convocation Friday.
The Saskatchewan Teachers’ Federation (STF) has agreed to binding arbitration with the province, which will put an end to current 'work to rule' job action and a contract dispute that has dragged out more than a year.
The weekend is fast approaching and there are plenty of things to do in the Queen City, including the farmers' market and pride parade on Saturday.
The First Nations University of Canada (FNUniv) has partnered with the Mastercard Foundation with the goal of improving Indigenous post-secondary education.
The 37-year-old Princeton man reported as missing since last weekend has been found dead.
The anchor for CTV Kitchener’s 6 p.m. show, Alexandra Pinto, has announced she will be leaving the station.
Thanks to the help of first responders, a man was safely pulled from Lake Huron Saturday morning.
Data in a new study from the Canadian Institute of Health Information (CIHI) shows nearly half of the beds in Saskatoon hospitals are going unused.
A 27-year-old man who has been missing since last week has been found dead.
The Saskatchewan Teachers’ Federation (STF) has agreed to binding arbitration with the province, which will put an end to current 'work to rule' job action and a contract dispute that has dragged out more than a year.
The armed standoff that created a large police presence on Manitoulin Island on Saturday morning has ended peacefully and one suspect is in custody, police confirmed to CTVNewsNorthernOntario.ca.
36-year-old Daniel Callahan was arrested Thursday after a 35-year-old mother was found dead and her two abducted daughters were later discovered in Mississippi – one dead and the other alive – in what investigators say may be a human trafficking case.
A lucky lotto player in the Greater Toronto Area is waking up with millions more reasons to smile this morning.
Thanks to the help of first responders, a man was safely pulled from Lake Huron Saturday morning.
A retail theft investigation has lead to illegal drug and handgun charges in Sarnia.
Russell Martin was taken aback when he walked into the plaque room at the Canadian Baseball Hall of Fame (CBHOF) for the first time.
A family support service organization is eliminating dozens of jobs and closing two programs, citing a lack of funding from the Ford government as the catalyst.
A delivery driver has been handed a costly ticket for passing a school bus as it picked up students.
Keep your eyes on the skies over Kempenfelt Bay this weekend as the Barrie Airshow takes flight, with iconic performances free for the whole family.
A woman has been charged after she allegedly drove her vehicle into a parked Windsor police cruiser while impaired, according to officers.
In case you missed it, CTV News Windsor has compiled all the top local stories from this week into one video for your convenience.
Chatham-Kent police are investigating a report of a stolen vehicle.
Victoria Mayor Marianne Alto says city council wants to prevent some of the issues faced by its most vulnerable citizens, rather than simply dealing with the aftermath, even if it means stepping outside of what's normally seen as a local government responsibility.
Emergency responders are searching for a missing boater in Mission, but they believe it's unlikely he is still alive, according to local RCMP.
Thieves managed to steal two large, portable ice baths from a CrossFit gym on Vancouver Island this week, according to local Mounties.
A hunter was attacked by a black bear near Summerland, B.C., this week after he shot and wounded the animal.
The summer solstice is one week away, but B.C.'s mountain passes could look more like winter this weekend, according to Environment and Climate Change Canada.
One person is dead after being struck by a train in Kamloops Thursday morning.
This Sunday is Father’s Day and the City of Lethbridge is helping those honour the memory of loved ones.
The Amir and Saker Manji Healing Garden was named after Amir Manji, who went through his own cancer journey, and comes following a $500,000 donation toward the centre from his family.
An investigation is underway into a fatal collision that left one woman dead Thursday night in Lethbridge.
The armed standoff that created a large police presence on Manitoulin Island on Saturday morning has ended peacefully and one suspect is in custody, police confirmed to CTVNewsNorthernOntario.ca.
Paramedics in Sault Ste. Marie showed their displeasure with a lack of contract negotiations Friday.
After helping Saultites to look their best for several decades, Oscar & Dario is bidding farewell to its long-time home in Sault Ste. Marie’s Station Mall.
Infant music classes are taking off, especially in Newfoundland, where demand is forcing one small business to boom.
Princess Anne will be in Newfoundland and Labrador next month to mark the 100th anniversary of the unveiling of the National War Memorial in St. John's.
A Federal Court judge has dismissed a bid by Labrador's Innu Nation to throw out an agreement involving the NunatuKavut Community Council, but both groups claim the ruling is a win.
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