November brings with it altering foliage and Thanksgiving decorations. This yr, you may add high-profile media offers to that checklist. The Wall Road Journal stories that BuzzFeed has purchased HuffPost via a stock deal. It’s arguably the most important deal of its sort since Vox Media acquired New York final yr.
Of their Wall Road Journal article, Benjamin Mullin and Keach Hagey level out that the deal isn’t nearly BuzzFeed buying HuffPost; as a substitute, it’s half of a bigger deal between BuzzFeed and Verizon Media, HuffPost’s earlier dad or mum firm.
“Underneath 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 consequence of the tie-up, the businesses mentioned.”
As The Wall Road Journal factors out, BuzzFeed founder and chief govt 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 just a few years now; this week, he appears to have put that philosophy into motion.
In their article on the acquisition, The New York Occasions 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 positioning’s earlier editor-in-chief, Lydia Polgreen, left HuffPost for Gimlet Media earlier this year.
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