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BuzzFeed acquires competitor HuffPost | Economy

The media group BuzzFeed takes over the news portal HuffPost from telecom giant Verizon. Both companies have announced this. They did not disclose financial details. Verizon will acquire a minority stake in BuzzFeed.




Verizon and BuzzFeed are also entering into a strategic partnership for online content and advertising. That should “unlock new income opportunities”. Both companies have cut their workforce in recent years, mainly due to dwindling advertising revenues.

The current CEO of BuzzFeed, Jonah Peretti, was one of the founders of HuffPost. In 2005 he co-founded the news portal – then called Huffington Post – with Arianna Huffington.

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