BuzzFeed Acquires HuffPost as Part of Broader Verizon Deal

November brings with it altering foliage and Thanksgiving decorations. This yr, you’ll be able to add high-profile media offers to that record. The Wall Avenue Journal reviews that BuzzFeed has purchased HuffPost via a stock deal. It’s arguably the largest deal of its variety since Vox Media acquired New York final yr.

Of their Wall Avenue Journal article, Benjamin Mullin and Keach Hagey level out that the deal isn’t nearly BuzzFeed buying HuffPost; as an alternative, it’s half of a bigger deal between BuzzFeed and Verizon Media, HuffPost’s earlier dad or mum firm.

“Beneath the pact, the businesses will syndicate content material on one another’s platforms and look to collectively discover promoting alternatives,” Mullin and Hagey write. “Verizon Media will get a minority stake in BuzzFeed as a outcome of the tie-up, the businesses stated.”

As The Wall Avenue Journal factors out, BuzzFeed founder and chief government Jonah Peretti was one of the founders of HuffPost in 2005, earlier than co-founding BuzzFeed a yr later. Peretti has been a proponent of digital media consolidation for a number of years now; this week, he appears to have put that philosophy into motion.

In their article on the acquisition, The New York Instances reported that BuzzFeed and HuffPost would every preserve distinct editorial staffs. Peretti additionally introduced plans to rent an editor-in-chief for HuffPost within the close to future. The location’s earlier editor-in-chief, Lydia Polgreen, left HuffPost for Gimlet Media earlier this year.

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