'BuzzFeed's Peretti Is Hoping To Raise $150M From Sale Of Complex Assets' - The Information
Portfolio Pulse from Happy Mohamed
BuzzFeed's CEO, Jonah Peretti, is hoping to raise $150 million from the sale of Complex Networks' assets, including its annual ComplexCon festival and video series. The proceeds could be used to pay off BuzzFeed's expensive debt load, which could be due as early as December next year. The company's shares are currently trading around 50 cents, with a market capitalization of $70 million.
July 05, 2023 | 7:52 pm
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BuzzFeed is planning to sell assets to pay off its debt. If successful, this could improve the company's financial health and potentially increase its stock price.
The sale of assets could help BuzzFeed pay off its debt, which could improve its financial stability. This could make the company more attractive to investors, potentially leading to an increase in its stock price.
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