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Verizon Media Sells HuffPost to Buzzfeed

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Verizon Media  (VZ) - Get Verizon Communications Inc. Report has sold HuffPost to Buzzfeed and has formed a strategic partnership with the company. 

Buzzfeed News and HuffPost will operate as two separate news organizations under Buzzfeed CEO Jonah Peretti. Peretti was one of the co-founders of HuffPost

“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,” Peretti said in a press release. 

Under the agreement, Verizon Media will take a minority stake in Buzzfeed and HuffPost will continue to serve as an official publishing partner to Verizon Media. 

Verizon Media and Buzzfeed have also agreed to syndicate across one another's platforms and explore further options of mutual benefit. 

The terms of the deal were not disclosed. 

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