BuzzFeed buys HuffPost, Apple reducing cut from news publishers’ subscriptions, and more: The Media Roundup

What's New in Publishing 20 Nov 2020 08:12

BuzzFeed to buy HuffPost in all-stock deal

First question: do we call it BuzzPost or HuffFeed? Neither, as it turns out, because BuzzFeed and HuffPost will be kept as separate organisations under the terms of the new deal.

There are a number of interesting points to note about this acquisition. The first is that this is actually a return for BuzzFeed CEO Jonah Peretti, who was one of The Huffington Post’s four co-founders in 2005. He went on to found BuzzFeed the following year, but didn’t work there full time until leaving The Huffington Post in 2011 after it was bought by AOL.

Verizon (who bought AOL in 2015) have been looking to offload HuffPost for a while, following heavy losses. However as part of the deal, Verizon Media will invest in BuzzFeed, taking a minority stake in the company.

BuzzFeed had just managed to break even for the first time in 8 years, following heavy cuts. It’s likely with this acquisition that they will be tipped back into the red for some years to come.

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