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Home » BuzzFeed to Acquire HuffPost

Capitol Communicator reports that BuzzFeed, a tech-powered media company, will merge with 890 5th Avenue Partners, Inc.

BuzzFeed to Acquire HuffPost

by | Nov 20, 2020

Once they had digital media almost to themselves, reports The New York Times, but  in a deal led by BuzzFeed founder Jonah Peretti, shown above, “two giants of the web plan to join forces to better compete in an increasingly crowded field.

“After falling prey to some of the same business difficulties that have plagued newspapers and magazines, the digital-media giants BuzzFeed and HuffPost have decided to join forces.”

Under the plan, BuzzFeed will acquire HuffPost from its owner, Verizon Media, as part of a larger stock deal, the companies said. The BuzzFeed and HuffPost websites will remain distinct, each with its own editorial staff.

Peretti, who helped found HuffPost 15 years ago, will serve as the chief executive.

As part of the arrangement, Verizon Media will become a minority shareholder in BuzzFeed, the companies said, but it will not have a seat on BuzzFeed’s board.

More here.

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Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

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