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Big Law

Buzzfeed is Acquiring HuffPost from Verizon Media

BuzzFeed is acquiring news aggregator and blog HuffPost from Verizon Media for an undisclosed amount, the companies said in a statement.

In addition to the sale of HuffPost, Verizon will become a minority investor in BuzzFeed, said the companies. Verizon Media and BuzzFeed also will syndicate content across each other’s platforms.

The deal reunites BuzzFeed CEO Jonah Peretti with HuffPost. Peretti co-founded the site in 2005 with Andrew Breitbart, Arianna Huffington and Kenneth Lehrer. HuffPost gained prominence in the early 2000s as digital media companies formed to provide instant opinions on news and politics. Over the years, HuffPost broadened its scope to include celebrity blog posts and award-winning longform journalism, culminating in a 2012 Pulitzer Prize for David Wood’s 10-part series on wounded veterans.

Read the source article at cnbc.com

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