It makes Verizon a minority shareholder in BuzzFeed, with the two firms agreeing to a strategic partnership for content and advertising. BuzzFeed said Thursday it was acquiring HuffPost in a deal uniting two digital media pioneers seeking fresh momentum in a troubled sector. The deal allows BuzzFeed to take over HuffPost from parent firm Verizon Media, and to use content from other Verizon properties including Yahoo, according to a statement from the companies. It also makes Verizon a minority shareholder in BuzzFeed, with the two firms agreeing to a strategic partnership for content and advertising. Mr. Peretti told BuzzFeed in an interview the deal was attractive because of “the brand and the audience” of HuffPost.

Source: The Hindu November 20, 2020 04:18 UTC