Executives at digital news publisher Mic managed to lay off nearly the entire company and secure a new owner all in one day. The company, which launched with a splash as a go-to news source for millennials, is officially being sold to Bryan Goldberg’s Bustle Digital Group.
Sources say a cash-strapped Mic had been aggressively looking for a new buyer to no avail when a looming cancellation from Facebook to its Watch program, Mic Dispatch, made the publisher’s financial situation plummet from bad to desperate.
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