NEW YORK - After falling prey to some of the same business difficulties that have plagued newspapers and magazines, digital-media giants BuzzFeed and HuffPost have decided to join forces, the companies announced on Thursday .
"We're excited about our partnership with Verizon Media, and mutual benefits that will come from syndicating content across each other's properties, collaborating on innovative ad products and the future of commerce, and tapping into the strength and creativity of Verizon Media Immersive," Mr Peretti said in a statement.
Because BuzzFeed and HuffPost appeal to different readerships, they should complement each other as part of the same company, Mr Peretti said in an interview on Thursday. In an interview, Guru Gowrappan, the Verizon Media chief executive, said that the company believed in Mr Peretti's approach, which persuaded him that a merger deal would add value.Mr Peretti's company was on track to turn a profit this year, but the addition of HuffPost will add more costs starting next year.