NEW YORK (1010 WINS) -- BuzzFeed Inc. will acquire HuffPost, part of Verizon Media, the companies announced Thursday.
The merger pairs two of the news landscape's most popular brands.
Under the deal, the companies will syndicate content on each other’s platforms and look to jointly explore advertising opportunities.
Verizon Media will get a minority stake in BuzzFeed.
The Wall Street Journal, citing a source, reported that Verizon Media is also making an undisclosed cash investment in BuzzFeed in addition to the stock deal for HuffPost.
Jonah Peretti, BuzzFeed’s founder and chief executive, will run the combined company.
BuzzFeed is hunting for a new editor-in-chief.