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Buzzfeed is reportedly set to acquire Huffpost as part of an expansive deal with Verizon Media, according to the Wall Street Journal.
The stock deal would merge two of the largest digital media companies — giving them the ability to combine content and look into joint advertising opportunities.
Jonah Peretti, BuzzFeed’s founder and chief executive, is set to run the new joint company while Buzzfeed will also conduct the search for the Huffpost’s new editor in chief.
“For several years, I spent my every waking moment on HuffPost and how to grow it and how to turn it into a leading media brand on the internet,” Peretti said in an interview. “So I have a deep connection to that brand because of the history. But this is not about nostalgia for me, it’s about the future, the brand, and the audience.”
In an email to staff, posted to Twitter by The Daily Beast’s Maxwell Tani, Mark Schoofs, Buzzfeed News’ editor in chief, clarified that his branch will remain separate from the Huffpost
Email from BuzzFeed News EIC Mark Schoofs to staff about what the acquisition of HuffPost means for the two news orgs pic.twitter.com/JwW4XWyeMg
— Max Tani (@maxwelltani) November 19, 2020
The HuffPost’s future editor in chief will also report to Schoofs but will the site, including its social channels and app, will continue to operate independently. Schoof will not manage the day-to-day operations, nor will he be involved on editorial choices, but will instead “weigh in on major strategy decisions.”
