Verizon and BuzzFeed Report Strategic Partnership for Content and Advertising

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Verizon Media and BuzzFeed reported a new partnership across content and advertising.  The acquisition of HuffPost by BuzzFeed will make Verizon Media a minority shareholder in BuzzFeed.  Both companies will be able to leverage this partnership to unlock new revenue opportunities.  “Verizon Media’s strategy has evolved over the past two years to focus on our core strengths- ads, commerce, content and subscriptions,” said Guru Gowrappan, CEO, Verizon Media. “We’ve created a powerhouse ecosystem, built on a trusted network, that delivers an end-to-end experience for consumers and advertisers. The partnership with BuzzFeed complements our roadmap while also accelerating our transformation and growth.”
“We’re excited about our partnership with Verizon Media, and mutual benefits that will come from syndicating content across each other’s properties, collaborating on innovative ad products and the future of commerce, and tapping into the strength and creativity of Verizon Media Immersive,” said Jonah Peretti, Founder and CEO, BuzzFeed.
“I have vivid memories of growing HuffPost into a major news outlet in its early years, but BuzzFeed is making this acquisition because we believe in the future of HuffPost and the potential it has to continue to define the media landscape for years to come,”  …

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