The Intercept is losing money amid left-wing megadonor Pierre Omidyar’s choice to stop providing funds to the outlet, Semafor reported on Sunday.
The Intercept is hemorrhaging around $300,000 monthly and is on pace to possess less than 1 million dollars in reserves by November, according to internal data distributed inside the outlet in March, Semafor reported. The outlet could potentially deplete its cash reserves entirely by May 2025 after Omidyar’s First Look Media decided to terminate its funding in late 2022.
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