BuzzFeed and HuffPost are joining forces. Verizon Media is selling the firm to BuzzFeed. Verizon Media bought HuffPost as part of a deal with AOL in 2015.
Jonah Peretti, BuzzFeed chief executive, will head the new venture. Peretti co-founded HuffPost in 2005 with publisher Arianna Huffington.
“I still vividly remember the night we launched HuffPost and the excitement of growing it into a major news outlet during those early years. But we aren’t buying HuffPost because of its illustrious past or my personal connection; we pursued this opportunity because we are excited about the future of HuffPost and all the potential it has to continue to define the media landscape for years to come,” Peretti wrote in a memo obtained by CNN Business.
HuffPost and BuzzFeed will continue to operate separately.
“Verizon Media’s strategy has evolved over the past two years to focus on our core strengths- ads, commerce, content, and subscriptions,” said Verizon Media CEO Guru Gowrappan. “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.”
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