** Buzzfeed Acquires Huffpost

HuffPost has a new owner, with its current parent company Verizon Media reaching an agreement to sell the site to BuzzFeed.

The Wall Street Journal broke the news and described this as a stock deal. Verizon Media is also making an investment in BuzzFeed and becoming a minority shareholder in the digital media company.

The deal also includes an agreement to syndicate content between the two companies while collaborating on advertising and creating a joint innovation group to explore other monetization opportunities.

As BuzzFeed’s press release notes, this deal brings HuffPost full circle, since BuzzFeed co-founder and CEO Jonah Peretti was also one of the founders of what was originally known as The Huffington Post.

“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 in a statement. “With the addition of HuffPost, our media network will have more users, spending significantly more time with our content than any of our peers.”
https://techcrunch.com/2020/11/19/buzzfeed-acquires-huffpost/amp/