Two of the biggest outlets in gaming media are the latest to face layoffs. A number of editorials on both Giant bomb and Game Spot revealed they were released on Thursday, just months after the sites were purchased by the Fandom wiki network.
While the extent of the cuts is not clear at this time, nearly half a dozen editors, video producers and broadcast talent shared tweets confirming they were part of the layoffs. Giant Bomb and GameSpot, formerly owned by Viacom CBS, were both sold to Red Ventures in 2020, which then turned around and sold them back to Fandom last October.
“We are excited to add these powerful, authoritative brands to the Fandom platform, which will expand our business capabilities and provide compelling content to our partners, advertisers and fans,” said Fandom CEO Perkins Miller at the time. Fandom, whose business model revolves around pasting ads on free user-generated contentis itself owned by private equity firm TPG Capital.
Fandom did not immediately respond to a request for comment.
Giant bomb in particular has been dealing with some upheavals lately. Co-founder Jeff Gerstmann left last summer to start a Patreon-funded solo podcast, and former co-host Dan Ryckert returned to take his place. Since then, the show has expanded its roster and added more crossover Game Spot talent. Jess “Voidburger” O’Brien, who became a full-time Giant Bomb member in 2021, was one of the people fired today.
The latest gaming media cuts come just a month later IGN faced its own surprise layoffs as the team prepared to cover the 2022 Game Awards. Before that, Comcast shutting down the recently revived gaming network G4, Tencent has challenged the staff Change fanand other sites like Game informant, Polygonand TechRadar also cut down on the workforce.
While layoffs fall at a time when companies are out Microsoft and Amazon are reducing the workforce and advertisers are slashing budgets ahead of one recession caused by the Federal Reserve, not everyone feels pain. The CEO of IGN‘s parent company, Vivek Shah, earned approx $16 million in 2021. TPG CEO Jon Winkelried meanwhile earned more than $80 million that same year, in addition to the hundreds of millions he brought in during his decades-long career at Goldman Sachs.