BuzzFeed will buy the HuffPost by Verizon Media through a stock agreement whose figure was not disclosed. The two companies, which publish two of the most important sites in the field of online information, will share their respective content on their platforms and explore possible advertising contracts together. As part of the deal, Verizon Media will receive a small share of Buzzfeed; a source he told al Wall Street Journal which Verizon Media will also make an investment in Buzzfeed.
Jonah Peretti, co-founder in 2006 of BuzzFeed and its current executive director, will lead the new company; BuzzFeed will also seek a new director for it HuffPost. In 2005 Peretti was one of the founders of the then Huffington Post, along with former director Arianna Huffington, who celebrated the deal with a tweet. In 2011, internet service provider AOL bought it Huffington Post for $ 315 million, then in 2015 broadband and telecommunications provider Verizon Communications bought AOL for $ 4.4 billion and also took over the news site.
So happy to see HuffPost and Buzzfeed coming together 15 years after Jonah Peretti started HuffPost with Kenny Lerer and me. Such exciting news and looking forward to all that’s to come!
– Arianna Huffington (@ariannahuff) November 19, 2020
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