Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

November 19, 2020 09:30 pm

BuzzFeed Strikes Deal To Buy HuffPost From Verizon Media

An anonymous reader quotes a report from Business Insider: BuzzFeed is set to acquire HuffPost in a stock deal with Verizon Media, The Wall Street Journal's Benjamin Mullin and Keach Hagey first reported Thursday. Verizon will get a noncontrolling stake in BuzzFeed in return. In addition to the all-stock deal, Verizon is investing cash in BuzzFeed, according to The Journal. As a result of the deal, the two newsrooms will be able to syndicate each other's content and team up for advertising deals. Jonah Peretti, the BuzzFeed founder and CEO and a cofounder of The Huffington Post, will be in charge of the expanded media giant. The two newsrooms will continue to operate as separate entities, the companies said in a press release. "Verizon Media's strategy has evolved over the past two years to focus on our core strengths -- ads, commerce, content and subscriptions," Verizon Media CEO Guru Gowrappan said in the release. "We've created a powerhouse ecosystem, built on a trusted network, that delivers an end-to-end experience for consumers and advertisers. The partnership with BuzzFeed complements our roadmap while also accelerating our transformation and growth." Peretti said in the statement: "We're excited about our partnership with Verizon Media, and mutual benefits that will come from syndicating content across each other's properties, collaborating on innovative ad products and the future of commerce, and tapping into the strength and creativity of Verizon Media Immersive. I have vivid memories of growing HuffPost into a major news outlet in its early years, but BuzzFeed is making this acquisition because we believe in the future of HuffPost and the potential it has to continue to define the media landscape for years to come," Peretti said. "With the addition of HuffPost, our media network will have more users, spending significantly more time with our content than any of our peers." Arianna Huffington, the HuffPost founder, tweeted: "So happy to see HuffPost and Buzzfeed coming together 15 years after Jonah Peretti started HuffPost with Kenny Lerer and me. Such exciting news and looking forward to all that's to come!"

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot