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Federated Media Shutters Standard Direct Sales Business

Adweek
In what could presage a foundational shift in the online advertising landscape, Federated Media Publishing will shut down its direct sales business, i.e. the division charged with selling standard display ads.
On Thursday afternoon (Nov. 8) the company began informing employees that it would cut that business in favor of its programmatic buying and native advertising businesses. As part of that shift Federated Media CEO Deanna Brown said the company will lay off 24 employees from its direct sales business—less than 10 percent of the company’s employee base—and transition the remaining members to the company’s other businesses.