From a story on axios.com by Sara Fischer and Kerry Flynn headlined “Journalists take back their companies”:

Journalists are buying back their companies and taking back their newsrooms.

Why it matters: The move underscores both the opportunity media executives see in giving creators ownership of their work and the major challenges that the sector faces, as investors and advertisers pull back and M&A opportunities fade.

Driving the news: This week, Recurrent sold its food website Saveur to an investment group led by Kat Craddock, the publication’s longtime editor.