Vivek Ramaswamy is about to take a major seat on the governing board in one of the most liberal anti-Trump online news publications.
Fresh from his presidential campaign, Ramaswamy purchased a 7.7% stake in Buzzfeed, the outlet infamous for launching the Trump-Russia hoax story in 2016, The National Pulse reported.
The outlet recently shuttered its newsroom amid a plunge in online advertising revenue across the industry.
Buzzfeed is now at the mercy of Ramaswamy and corporations like Comcast and Hearst Communications.
According to a filing with the Securities and Exchange Commission, Ramaswamy indicated his intent to “engage in a dialogue with board or management about numerous operational and strategic opportunities to maximize shareholder value, including a shift in the company’s strategy.”
Following the news, Wall Street pushed Buzzfeed’s stock north by 55%, starting Wednesday at $3.94 at premarket trading.
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Trending Politics News noted:
In November 2016, the outlet began reporting on unverified documents produced by British former spy Christopher Steele alleging collusion between the Trump campaign and Russian actors attempting to sow chaos in America’s presidential election.
One year later, Buzzfeed was sued by Russian tech entrepreneur Aleksej Gubarev, who alleged defamation when the outlet claimed his companies participated in Russia’s hack of the Democratic National Committee.
Although Buzzfeed later retracted portions of the articles mentioning Gubarev, its attorneys stated, “it was not grossly irresponsible to publish the dossier.”
A year-long investigation concluded that the Trump campaign did not collude with Russia.
Ramaswamy now has the opportunity to turn the tables on the outlet with a new unbiased media enterprise.
His stake in Buzzfeed hints at a future in media and could help propel Trump to the White House.
This year, Ramaswamy delivered a takedown of District Attorney Alvin Bragg outside resident Trump’s court hearing in Manhattan, showing he has no plans to abandon his party’s leader.
“It’s straight out of a Kafka novel,” he said.
“The prosecution’s main strategy appears to bore the jurors into submission. And if you look in that direction, sadly, it may appear to actually be working.”
We can only hope that Ramaswamy uses his leverage at BuzzFeed to help Trump.
