BuzzFeed Expands Media Empire with HuffPost Acquisition
In a landmark move for digital media, BuzzFeed has acquired HuffPost from Verizon Media in a stock-based deal. The agreement, first reported by The Wall Street Journal, marks a significant consolidation in the online publishing landscape and reunites HuffPost with one of its original co-founders.
Key Details of the Acquisition
- Transaction Structure: Verizon Media receives equity in BuzzFeed, becoming a minority shareholder
- Content Partnership: Includes content syndication between both platforms
- Joint Initiatives: Creation of an innovation group to explore advertising and monetization opportunities
Full Circle Moment for Digital Media
BuzzFeed CEO Jonah Peretti, who co-founded HuffPost (originally The Huffington Post) in 2005, emphasized the strategic importance of this acquisition:
“I have vivid memories of growing HuffPost into a major news outlet… We believe in the future of HuffPost and its potential to define the media landscape for years to come.”
Peretti noted the combined entity will boast superior audience engagement metrics compared to industry peers.
Historical Context of HuffPost Ownership
- 2011: AOL acquired HuffPost for $315 million
- 2015: Verizon acquired AOL
- 2017: Verizon merged AOL and Yahoo under the Oath brand
- 2019: Rebranded as Verizon Media Group
Leadership Changes and Union Impact
BuzzFeed is currently searching for a new HuffPost editor-in-chief following Lydia Polgreen’s departure in March 2020. The Writers Guild of America, East confirmed that HuffPost’s union agreement remains intact under new ownership.
Why This Matters for Digital Media
This acquisition represents:
- Industry consolidation amid challenging digital advertising markets
- Strategic alignment between two pioneering digital publishers
- New opportunities for cross-platform content distribution
The deal underscores the evolving nature of digital media as established players seek synergies to compete in an increasingly crowded marketplace.
