Deadspin, the irreverent sports and news site best known for its commentary and analysis, laid off all of its staff on Monday after the outlet was sold to a startup firm.
In a memo to staffers, Jim Spanfeller — the chief executive of G/O Media, Deadspin’s parent company prior to the sale — wrote that it had been approached by the European firm Lineup Publishing, a newly formed digital media company, looking to add Deadspin to its growing media holdings.
After some consideration, G/O Media’s board decided to accept Lineup Publishing’s offer, Spanfeller wrote, adding that G/O Media wasn’t actively shopping Deadspin at the time.
“The rationale behind the decision to sell included a variety of important factors that include the buyer’s editorial plans for the brand, tough competition in the sports journalism sector, and a valuation that reflected a sizable premium from our original purchase price for the site,” Spanfeller wrote.
“Deadspin’s new owners have made the decision to not carry over any of the site’s existing staff and instead build a new team more in line with their editorial vision for the brand,” Spanfeller continued.
A G/O Media spokesperson confirmed that 11 Deadspin staffers were impacted by the move on Monday. The terms of the sale were not disclosed.
Though Spanfeller said Lineup Publishing had praised Deadspin’s “unique voice,” he said that the outlet’s new owners intended to “take a different content approach regarding the site’s overall sports coverage.” This “unfortunately” included parting ways with staff members who were notified early Monday, he wrote.
In an all-hands December meeting, Spanfeller noted G/O Media had been actively reviewing its portfolio and operations to prioritize resources.
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