As reported by TheWrap, Byron Allen's media company, TheGrio, which caters to Black Americans, has reportedly laid off several employees, including the managing editor. According to an individual with knowledge of the situation, the restructuring effort has resulted in a reduction of the workforce. The podcast and video teams have also been affected by the layoffs, the individual said.
"The axe is falling at TheGrio," the source told TheWrap. The company confirmed that it is making strategic changes to position itself for growth, which includes financial and staff adjustments in all areas. However, the spokesperson declined to comment on the specific layoffs.
“Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions.”
In a statement to TheWrap, Allen Media Group said, "Our brands continue to perform well, and in many areas, our revenue growth has greatly outpaced the market. We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry."
TheGrio, which was acquired by Allen Media Group in 2016, is the largest Black newsroom in the country and covers the latest news on politics, entertainment, and lifestyle content. In addition to its website, TheGrio features live events, a cable network, and a podcast network.
In March, Allen Media Group signed a new multi-year agreement with Charter Communications, allowing the Spectrum owner to continue carrying the group's offerings, including TheGrio.