BuzzFeed
is buying HuffPost from Verizon Media, the digital media companies announced
Nov. 19.
The deal will make Verizon
Media a minority shareholder in BuzzFeed.
As part of the agreement,
Verizon Media and BuzzFeed agree to syndicate content across each other’s
platforms, create an innovation group to explore monetization opportunities and
leverage emerging ad formats including extended reality (XR) and AR
applications. BuzzFeed will also have the opportunity to leverage Verizon Media Immersive, the largest
online XR platform for advertising and content
Additionally, BuzzFeed will
also be able to tap into Verizon Media’s ad platform, which provides access to
qualified data sets while reaching consumers across channels, including mobile,
desktop, video, native, addressable TV, Connected TV (CTV), Digital Out of Home
(DOOH), and audio.
As part of the agreement,
HuffPost will continue to contribute to Verizon Media’s portfolio as an
official publishing partner. BuzzFeed will be able to syndicate content across
Verizon’s Media brands, including Yahoo.
BuzzFeed’s acquisition of
HuffPost will bring it back to its original co-founder, Jonah Peretti.
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