Buzzfeed takes over HuffPost
The U.S. media company BuzzFeed is acquiring the news portal HuffPost from Verizon Media. The two companies are entering into a strategic partnership in the areas of online content and advertising, as they announced on Thursday (local time).
Verizon also receives a minority interest in Buzzfeed. Buzzfeed-Chef Jonah Peretti had the HuffPostwhich at that time was still Huffington Post was founded together with Arianna Huffington. Like Buzzfeed, the online portal is considered a pioneer in the field of digital media. However, both have struggled with financial difficulties in recent years.
His company decided to make the acquisition because it "believes in the future of the HuffPost and believes in its potential to continue to shape the media landscape in the coming years," explained Peretti. In addition, the business is important because of "the brand and the users" of HuffPost attractive. There is "not much overlap" between the users of the two online media.
In recent years, Verizon has established itself as a major player in the industry by acquiring companies such as AOL, TechCrunch and Yahoo. (SDA)
