HuffPost is reportedly on the public sale block

Late final night time the Monetary Instances reported that HuffPost, arguably one of many crown jewels of Verizon Media Group’s remaining community of media properties (which incorporates TechCrunch), is up on the market.

Verizon has been shedding media properties in a retreat from the technique that it had begun to execute with the acquisition of AOL for $4.Four billion again in 2015. By means of the AOL deal, then-chief govt Tim Armstrong grew to become the architect of the telecommunications firm’s media and promoting technique.

Armstrong’s imaginative and prescient was to roll up as a lot on-line actual property as he may whereas making a excessive expertise promoting structure on the back-end that might higher goal shoppers based mostly on their media consumption (which the telecom firm would additionally personal).

The thought was to offer a broad-based competitor to the attain of advert platforms on Google and Fb which had been additionally concentrating on customers based mostly on their shopping historical past and pursuits. The profit that Google and Fb had was that that they had a extra holistic view of what shoppers did on-line and so they positioned themselves as a distribution channel between media corporations and customers — basically redistributing their articles and movies and hoovering up the advert {dollars} that had beforehand gone to these media corporations.

The multi-billion greenback land seize continued when Verizon paid $4.5 billion for Yahoo in 2017.

Now it seems that Verizon has a multi-billion greenback case of purchaser’s regret. A part of the billions that Verizon spent on Yahoo was for the early social community Tumblr, which Yahoo had acquired for $1.1 billion again in 2013.

Earlier this yr Verizon unloaded Tumblr for the price of a luxurious Manhattan condominium. That $three million sale was presaged by the numerous fall from grace of different former high-flying media and tech properties.

Vice was as soon as value $5.7 billion on the peak of the media funding bubble, however earlier this yr Disney wrote down its stake within the firm to just about nothing.

Not less than Vice is rising as a survivor. the corporate has rolled up Refinery29. Vox Media can be doing effectively within the new world of media. It purchased Recode again in 2015 and not too long ago acquired the writer behind New York Journal to broaden its purview into paper publications and get its fingers on the favored New York web sites Intelligencer, The Minimize, Vulture, and Grub Avenue.

Different publications like Hi there Giggles, which was based by the actress Zooey Deschanel, had been offered to Time Journal. Excessive-fliers like Buzzfeed, HuffPost, Vice and Vox have all needed to lay off workers in latest months.

It’s been a wild experience for HuffPost, which started in 2005 as a group of superstar bloggers introduced collectively beneath the auspices of Arianna Huffington, from whom the location took its identify.

AOL acquired The Huffington Submit again in 2011 in a deal that was valued at $315 million lower than a yr after choosing up TechCrunch for $25 million.

Verizon introduced layoffs throughout its media properties initially of the yr. It lower roughly 7 p.c of its workers — or round 800 jobs — together with some at HuffPost.

In an announcement to the Monetary Instances, Verizon mentioned that it will not touch upon rumors and hypothesis.

Neither Verizon Media nor HuffPost responded to a request for remark by the point of publication.


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