First question: do we call it BuzzPost or HuffFeed? Neither, as it turns out, because BuzzFeed and HuffPost will be kept as separate organisations under the terms of the new deal.
There are a number of interesting points to note about this acquisition. The first is that this is actually a return for BuzzFeed CEO Jonah Peretti, who was one of The Huffington Post’s four co-founders in 2005. He went on to found BuzzFeed the following year, but didn’t work there full time until leaving The Huffington Post in 2011 after it was bought by AOL.
Verizon (who bought AOL in 2015) have been looking to offload HuffPost for a while, following heavy losses. However as part of the deal, Verizon Media will invest in BuzzFeed, taking a minority stake in the company.
BuzzFeed had just managed to break even for the first time in 8 years, following heavy cuts. It’s likely with this acquisition that they will be tipped back into the red for some years to come.
Instead of taking 30% of new subscribers’ payments, it’ll take 15% for developers who earn less than $1 million in annual sales per year from their apps. The money’s welcome, but it’s also a reminder of how little control publishers have over the terms they get from tech giants.
How South Africa’s Daily Maverick launched a print newspaper – in a pandemic. A case study in product thinking
Find out how the Japanese concept of Ikigai helped the Daily Maverick’s approach to business strategy. “Our new print newspaper shows how a news organization can innovate by using practices that have been commonplace in other industries.” This is a clear – and clever – look at how those principles can be successfully executed.
Bauer Media UK’s B2B Events business has launched its first virtual exhibition – Fleet & Mobility Live. There aren’t many examples yet of publishers going all-out on virtual exhibitions, so we’ll be watching how this one goes with interest.This content originally appeared in The Media Roundup, a daily newsletter from Media Voices. Subscribe here: