Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions.

Axios Media is being acquired by Cox Enterprises, which says it plans to push the online news provider into new markets while broadening its coverage.

Buzzfeed announced that it has laid off 45 reporters, editors and producers from the newly acquired HuffPost. The dismissals come three weeks after Buzzfeed acquired HuffPost from Verizon Media. (AP Photo/Ted Shaffrey, File)NEW YORK – Buzzfeed announced Tuesday that it has laid off 45 reporters, editors and producers from the newly acquired HuffPost. HuffPost Executive Editor Hillary Frey, the website’s executive editor, and Executive Editor Louise Roug also resigned over the layoffs, Buzzfeed said. The dismissals come just three weeks after Buzzfeed acquired HuffPost, the media outlet founded in 2005 as The Huffington Post, from Verizon Media.