From the article:
As of today, the venerable comedy concern CollegeHumor Media is mostly dead. In the words of Sam Reich, its chief commercial officer, IAC “has made the difficult decision to no longer finance us,” he wrote in a Twitter thread this afternoon. “Today, 100+ brilliant people lost their jobs, some of whom are my dear, dear friends.” That means the cuts hit every vertical: CollegeHumor, Dorkly, Drawfee, and Dropout — only five to 10 people are left, according to Bloomberg.
The news, however, wasn’t all bad: IAC agreed to let Reich become the humor company’s majority owner. “Of course, I can’t keep it going like you’re used to,” Reich wrote further down in the thread. “While we were on the way to becoming profitable, we were nonetheless losing money — and I myself have no money to be able to lose.”
They said they are going to try to save the various shows and channels, but I'm not sure how they are exactly going to do that since they have let go nearly all of the performers. My wife and I are bummed by this as we really enjoyed their content. This is just the latest example of internet comedy sites that has all but shut down over the years as the landscape changed with the evolution of social media and streaming services. Cracked used to produce a ton of video and podcast content before they went through a similar round of layoffs that gutted the company. Funny or Die before that.