The Independent is in talks to buy BuzzFeed’s UK assets – Kommersant
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British online newspaper The Independent negotiates on the acquisition of rights to the assets of the BuzzFeed and HuffPost portals in the UK and Ireland. The potential deal is described as a “strategic partnership” between The Independent and BuzzFeed. If the deal goes through, The Independent will take control of BuzzFeed UK, which owns online titles including HuffPost UK, Seasoned and Tasty. Financial terms of the possible transaction were not disclosed.
BuzzFeed UK is one of the assets of the American company BuzzFeed, which also owns or previously owned several online publications in the United States, including The Huffington Post and BuzzFeed News. Last year she announced about the termination of BuzzFeed News.
Like other online publications, the company has recently faced financial difficulties, including due to increased competition with large platforms in the online advertising market. As British media write, citing sources close to the negotiations, The Independent and BuzzFeed hope that combining audiences will make all these publications more attractive to advertisers, including in terms of access to a younger audience.
BuzzFeed shares rose 38% yesterday following news of a possible deal.
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