BUZZFEED IS BUYING HUFFINGTON POST
https://www.bbc.com/news/business-55009742
>Online news and lifestyle site Buzzfeed is taking over HuffPost in a deal that brings together two of the most high-profile digital media firms.
Seller Verizon Media will become a minority shareholder in Buzzfeed as part of the deal and invest in the combined company.
The two firms will also join up for advertising and sharing content, a partnership they said would "create new revenue opportunities".
The price was not disclosed.
Buzzfeed chief executive Jonah Peretti will lead the combined business. He co-founded HuffPost, formerly known as the Huffington Post, in 2005 with publisher Arianna Huffington and started Buzzfeed a year later. HuffPost rose to prominence during the George W Bush presidency as a site for liberal bloggers, many of whom contributed for free. Buzzfeed made its name creating content like listicles and quizzes, which drew young audiences. It also brought on reporters for its news site.
Mr Peretti said the new deal would increase Buzzfeed's heft, by adding HuffPost readers to its audience and allowing it to tap into Verizon's ad network.
HuffPost is expected to remain a standalone brand, alongside other Buzzfeed sites, including Tasty and Buzzfeed News.
>"While considering opportunities to work together, naturally, Jonah and I also discussed the property he co-founded, HuffPost," said Verizon Media boss Guru Gowrappan.
>"We quickly realised BuzzFeed's strategy would complement HuffPost's roadmap, injecting it with new energy and growing the brand into the future.
>"We are deeply invested in the continued success of HuffPost and I couldn't think of a better partner to take HuffPost to the next level."