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April 19, 2016 08:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/ObxrSQkdWac/verizon-and-hearst-team-up-to-buy-complex-media
Verizon and Hearst Team Up To Buy Complex Media
An anonymous reader quotes a report from TechCrunch: Verizon Wireless and Hearst Corp. are set to jointly acquire Complex Media. The "video-first" lifestyle site, focused on pop-culture trends and general entertainment, will continue to operate independently, albeit with Verizon and Hearst now each owning 50 percent stakes in the company. Complex CEO and co-founder Rich Antoniello will continue to lead the company. The WSJ reports that the deal values Complex Media between $250 million and $300 million. "The decision to acquire Complex is certainly a continuation of our media strategy, which is focused on disruption that is occurring in digital media and content distribution, and involves building a portfolio of the emerging digital brands of the future for the millennial and Gen-Z audience," said Brian Angiolet, Verizon's senior vice president of consumer product and marketing.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/ObxrSQkdWac/verizon-and-hearst-team-up-to-buy-complex-media
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