NEW YORK, Nov. 24, 2020– BuzzFeed acquire online content platform HuffPost from Verizon Media.
The addition of HuffPost which BuzzFeed will acquire brings BuzzFeed a universally known brand with significant scale, and an audience complementary to its own.
“Verizon Media’s strategy has evolved over the past two years to focus on our core strengths- ads, commerce, content and subscriptions,” said Guru Gowrappan, CEO, Verizon Media. “We’ve created a powerhouse ecosystem, built on a trusted network, that delivers an end-to-end experience for consumers and advertisers. The partnership with BuzzFeed complements our roadmap while also accelerating our transformation and growth.”
“We’re excited about our partnership with Verizon Media, and mutual benefits that will come from syndicating content across each other’s properties, collaborating on innovative ad products and the future of commerce, and tapping into the strength and creativity of Verizon Media Immersive,” said Jonah Peretti, Founder and CEO, 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 plans to extend its lines of business across Huffpost’s complementary demographic. BuzzFeed News and HuffPost will operate as separate, distinct news organizations.