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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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William B. Plowman, Invision for BuzzFeed / AP Images

Both BuzzFeed and Vice Media will miss their 2017 revenue projections, according to The Wall Street Journal. The paper also reports that Ziff Davis has agreed to buy tech-focused Mashable for just $50 million, or around one-quarter of what Mashable was valued at by its venture capitalists in early 2016.

Bottom line: This could put pressure on valuations for digital media startups, particularly those with ad-supported revenue models.

BuzzFeed: WSJ reports that the company will come in between 15% and 20% short of its $350 million revenue projections, likely postponing its planned IPO past 2018. Here is how a company source spun the news to WSJ:

"One person close to BuzzFeed said the performance reflects a more general malaise this year in ad-supported media businesses and isn't particular to the company."

Vice: The company won't hit its $800 million revenue projection for 2017, although the exact shortfall is unclear. There also has been rampant speculation about Vice going public.

Mashable: Ziff Davis is paying just $50 million for Mashable, which has raised over $45 million in venture capital funding (including a $15 million Series C round last year at a $200 million post-money valuation). Its investors included Time Warner Investments.

Go deeper

CDC lets child migrant shelters fill to 100% despite COVID concern

Intensive care tents at overflow shelter in Carrizo Springs, Texas. Photo: Sergio Flores/The Washington Post via Getty Images

The Centers for Disease Control is allowing shelters handling child migrants who cross the U.S.-Mexico border to expand to full capacity, abandoning a requirement that they stay near 50% to inhibit the spread of the coronavirus, Axios has learned.

Why it matters: The fact that the country's premier health advisory agency is permitting a change in COVID-19 protocols indicates the scale of the immigration crisis. A draft memo obtained by Axios conceded "facilities should plan for and expect to have COVID-19 cases."

8 Senate Democrats vote against adding $15 minimum wage to COVID relief

Photo: Stefani Reynolds/Bloomberg via Getty Images

Eight Democratic senators on Friday voted against Sen. Bernie Sanders' amendment to ignore a ruling by the Senate parliamentarian and add a $15 minimum wage provision to the $1.9 trillion COVID relief package.

The state of play: The vote was held open for hours on Friday afternoon — even after every senator had voted — due to a standoff in negotiations over the next amendments that the Senate will take up.

CDC: Easing mask mandates led to higher COVID cases and deaths

Customer at a supermarket chain in Austin, Texas. Montinique Monroe/Getty Images

Easing mask restrictions and on-site dining have increased COVID-19 cases and deaths, according to a study out Friday from the Centers for Disease Control and Prevention.

Why it matters: The report's findings converge with actions from governors this week easing mask mandates and announcing plans to reopen nonessential businesses like restaurants.

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