Verizon Media and BuzzFeed Announce New Strategic Partnership Across Content and Advertising

BuzzFeed Acquires HuffPost, Expanding its Slate of World-Class Media Brands With Cultural Impact

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What you need to know:

• Partnership between Verizon Media and BuzzFeed will unlock revenue for both companies through content syndication, new sales opportunities, commerce and AR
• BuzzFeed’s acquisition of HuffPost brings together the four best known new media brands (along with BuzzFeed, BuzzFeed News, and Tasty) to create a massive media network
• Verizon Media invests in BuzzFeed, taking minority stake in company

NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Verizon Media and BuzzFeed today announced a new strategic partnership across content and advertising, the acquisition of HuffPost by BuzzFeed, and an investment that will make Verizon Media a minority shareholder in BuzzFeed. From powering new consumer shopping experiences, to content syndication, to innovative ad products, the partnership will unlock new revenue opportunities for both media companies. 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.

“I have vivid memories of growing HuffPost into a major news outlet in its early years, but BuzzFeed is making this acquisition because we believe in the future of HuffPost and the potential it has to continue to define the media landscape for years to come,” Peretti continued. “With the addition of HuffPost, our media network will have more users, spending significantly more time with our content than any of our peers.”