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The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

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Media

BuzzFeed Splits Itself in a New Reorganization

By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
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By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
August 24, 2016, 2:12 AM ET
BuzzFeed Gets $50 Million To Propel Value Past Old Media Titans
The Buzzfeed Inc. application (app) is displayed on an Apple Inc. iPhone 5s in this arranged photograph in Washington, D.C., U.S., on Monday, Aug. 11, 2014. BuzzFeed Inc. raised $50 million on a bet its mix of everything from animal lists to serious news is more valuable than the coverage produced by established media like the Washington Post and Los Angeles Times. Photographer: Andrew Harrer/Bloomberg via Getty ImagesAndrew Harrer/ Bloomberg via Getty Images

Online media outlet BuzzFeed (BUZZFEED) will split itself into two new departments that will focus on news and entertainment, CEO Jonah Peretti wrote in a memo sent to employees.

The move to create two departments – BuzzFeed News and BuzzFeed Entertainment Group – comes at a time when online media companies are grappling with the balance between covering news and politics, and lighter fare like social media, entertainment, and lifestyle.

BuzzFeed will integrate some existing groups like the health team and video news into BuzzFeed News, which will be run by Ben Smith, editor-in-chief of BuzzFeed.

See also: Why the Death of Gawker Isn’t Something to Cheer About

“In this new structure, video won’t be the job of just one department. Having a single video department in 2016 makes about as much sense as having a mobile department,” Peretti said in the memo, a copy of which was made available to Reuters.

BuzzFeed Entertainment Group will now become the umbrella for all entertainment news and will be headed by the president of BuzzFeed Motion Pictures, Ze Frank, who will assume the role of president of BuzzFeed Entertainment.

For more news on the media industry, watch Fortune’s video:

“Instead of organizing around a format or technology, we will organize our work to take full advantage of many formats and technologies,” Peretti said.

The company is best known for online list-based articles and quizzes and is trying to better attract more young internet-focused audiences who have different consumption patterns from their parents.

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