CLICK BAIT: Millennial Blog Site BuzzFeed to Acquire HuffPost from Verizon Media
Posted on 11/20/2020
Millennial blog site BuzzFeed Inc. inked a deal to buy Verizon Media’s HuffPost (originally called The Huffington Post) in a stock deal. Verizon Media is a unit of Verizon Communications Inc. The media companies will syndicate content on each other’s platforms and look to jointly explore advertising opportunities. Furthermore, Verizon Media will get a minority stake in BuzzFeed.
BuzzFeed was founded in 2006 by Jonah Peretti and John S. Johnson III to focus on tracking viral content. Kenneth Lerer, co-founder and chairman of The Huffington Post, started as a co-founder and investor in BuzzFeed and is now the executive chairman. A 2014 Pew Research Center survey found that in the United States, BuzzFeed was viewed as an unreliable source by the majority of respondents, regardless of age or political affiliation.