Refinery29 CEO Cory Haik is out just eight months after the former Vice Media executive took over under new ownership, and about a dozen staffers, or 10% of the company, have been laid off, Axios reported, citing people familiar with the situation.
The female-focused digital media outlet was acquired in April by Sundial Media Group, which installed named Haik as CEO. Axios says the reasons for her departure were not made clear; Sundial Media Group did not immediately respond to messages seeking comment.
Vice Media bought Refinery29 in 2019, when the fashion and lifestyle brand was making $100 million in revenue. By 2023, revenue dropped to $30 million, and its sale to Sundial was seen as an important lifeline.
Like many once-promising new media platforms, Refinery began to pivot away from digital advertising to events and branded services like paid content marketing.
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