'Independent In Talks To Take Control Of BuzzFeed And HuffPost In UK' - Financial Times
Portfolio Pulse from Benzinga Newsdesk
The Independent is in talks to take control of BuzzFeed and HuffPost's operations in the UK and Ireland, aiming to expand in a challenging advertising climate. The deal includes editorial and commercial control, staff transfers, and a strategic partnership for content and tech support. This move comes as digital advertising faces hurdles due to Google's decision to end third-party tracking cookies, impacting revenue generation. The partnership aims to leverage combined audiences for better commercial offerings and reflects the industry's shift towards first-party data for advertising.
February 15, 2024 | 4:31 pm
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BuzzFeed, under a licensing deal, will transfer control of its UK operations to The Independent, including staff and commercial operations. The partnership aims to leverage combined audiences for better commercial offerings amidst digital advertising challenges.
The partnership with The Independent could help BuzzFeed stabilize its operations in the UK and Ireland by leveraging The Independent's resources and audience. However, the impact on BuzzFeed's stock price is uncertain due to the complex nature of digital advertising challenges and the strategic shift towards first-party data.
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