Verizon Media and BuzzFeed November 19 announced a new strategic partnership across content and advertising, the acquisition of HuffPost by BuzzFeed, and an investment that will make Verizon Media a minority shareholder in BuzzFeed. From powering new consumer shopping experiences, to content syndication, to innovative ad products, the partnership will unlock new revenue opportunities for both media companies. The addition of HuffPost - which BuzzFeed will acquire - brings BuzzFeed a universally known brand with significant scale, and an audience complementary to its own, as it was informed in the press release by BuzzFeed.
As part of the agreement, HuffPost will continue to contribute to Verizon Media’s portfolio as an official publishing partner, joining trusted premium content partners such as The New York Times, USA Today, Associated Press, and Reuters. HuffPost content will be amplified via Yahoo channels and products, boosting traffic and monetization. BuzzFeed will be able to syndicate content across Verizon’s Media brands, including Yahoo - a huge driver of traffic for HuffPost - and more. Additionally, Verizon Media will continue to manage sales for HuffPost’s ad inventory.
BuzzFeed’s acquisition of HuffPost will bring it back full circle to its original co-founder, Jonah Peretti. HuffPost is a global, premier media platform for news, commentary, entertainment, features, and lifestyle content, and has been part of the Verizon Media portfolio since 2011. As a Verizon Media property, HuffPost has become a premium destination for award-winning journalism and was the first fully digital U.S. publication to win the Pulitzer prize - a testament to its editorial excellence. With this acquisition, BuzzFeed’s scale, engagement and cultural impact will be unrivaled. Its diversified revenue model will expand across HuffPost, tapping into a broader, wealthier audience that is complementary to its own. BuzzFeed plans to extend its lines of business across Huffpost’s complementary demographic. BuzzFeed News and HuffPost will operate as separate, distinct news organizations.
Additional terms of the deal were not disclosed. The transaction is subject to customary closing conditions.
Verizon Media, a division of Verizon Communications Inc., houses a trusted media ecosystem of premium brands like Yahoo and TechCrunch. Verizon Media is an incubator of innovation and is revolutionizing the next generation of content creation in a 5G World.
BuzzFeed is the world’s leading tech-powered media company, with a cross-platform news and entertainment network that reaches hundreds of millions of people globally.
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