The Briefing Room

General Category => Economy/Business => Topic started by: PeteS in CA on September 30, 2020, 08:13:40 PM

Title: Verizon scrambling to unload HuffPost as losses mount
Post by: PeteS in CA on September 30, 2020, 08:13:40 PM
Verizon scrambling to unload HuffPost as losses mount

https://nypost.com/2020/09/28/verizon-scrambling-to-unload-huffpost-as-losses-mount/ (https://nypost.com/2020/09/28/verizon-scrambling-to-unload-huffpost-as-losses-mount/)

Quote
Verizon has been quietly scrambling to unload HuffPost as it grapples with continued losses at the left-leaning news and culture website, The Post has learned.

The telecom giant — which acquired the site formerly known as the Huffington Post as part of its $4.4 billion purchase of AOL in 2015 — has approached multiple digital-media companies during the past few months in a bid to get the property off its books as losses accelerate due to the coronavirus, according to sources close to the situation.

Verizon has pitched the property to prospective buyers including Thrillist-owner Group Nine Media, Rolling Stone publisher Penske Media Corp., Bustle Digital Media and J2 Global, insiders said. Those media outlets declined to comment.

Vox Media, which owns New York Magazine and operates news and political site Vox as well as tech news sites Recode and The Verge, is among the media outlets to have held talks to acquire HuffPost. Some sources have described those talks as “serious,” but sources close to Vox, while acknowledging they have taken a look, say they are not interested in buying the property.

BTW, HuffPo was losing $$ before the 'vid hit their advertisers' ad budgets.
Title: Re: Verizon scrambling to unload HuffPost as losses mount
Post by: jmyrlefuller on October 01, 2020, 07:30:56 AM
Verizon scrambling to unload HuffPost as losses mount

https://nypost.com/2020/09/28/verizon-scrambling-to-unload-huffpost-as-losses-mount/ (https://nypost.com/2020/09/28/verizon-scrambling-to-unload-huffpost-as-losses-mount/)

BTW, HuffPo was losing $$ before the 'vid hit their advertisers' ad budgets.
I'm not sure it ever made money.

Probably the only person who ever made money of Huffpo was Ariana Huffington herself—and that was only after she sold it the first time.