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Verizon Media To Sell HuffPost, Takes Minority Stake In BuzzFeed

(RTTNews) - Verizon Communications Inc. (VZ) announced that Verizon Media has signed a partnership deal with tech-powered media company BuzzFeed across content and advertising. Under the deal, Verizon Media will sell HuffPost to BuzzFeed, and will take a minority stake in BuzzFeed.

Additional terms of the deal were not disclosed. The transaction is subject to customary closing conditions.

HuffPost is a global, premier media platform for news, commentary, entertainment, features, and lifestyle content, and has been part of the Verizon Media portfolio since 2011.

According to the company, BuzzFeed's acquisition of HuffPost will bring it back full circle to its original co-founder, Jonah Peretti, who is also founder and CEO of BuzzFeed.

As part of the agreement, HuffPost will continue to contribute to Verizon Media's portfolio as an official publishing partner. BuzzFeed News and HuffPost will operate as separate, distinct news organizations.
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