Business
BuzzFeed Issues Going Concern Warning, Lacks Liquidity for Coming Year
BuzzFeed warned that it lacks the resources to fund its cash obligations during the next year without a plan to address its capital needs.
The digital media company has broadly operated at a loss since its conception and is burdened by legacy commitments, Chief Financial Officer Matt Omer said Thursday. The company has engaged in strategic conversations to unlock the value of its assets and address liquidity issues, and is exploring strategic options to position itself for profitability, he said.
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