in an all-stock deal that brings together two companies that have struggled to get profitable with big staffs to support and ad revenue declines in the pandemic.
Some insiders said that BuzzFeed would be a better owner for HuffPost than Verizon, and staff spent time Slacking each other about how BuzzFeed's benefits package compares to that of Verizon. The FAQ, which has been viewed by Business Insider, said that BuzzFeed and HuffPost "will compete for scoops and stories." It also encouraged the newsrooms to work together. "At the same time, we will all be part of the same company, which means that we can learn from and collaborate with them."
Talking through the deal to staffers during an all-hands meeting on Thursday, BuzzFeed CEO Peretti said he expected HuffPost to be profitable by the end of next year and that the HuffPost brand was stronger than HuffPost's business.