- BuzzFeed’s acquisition of HuffPost has sparked speculation that BuzzFeed could try to buy other digital media companies, possibly by joining forces with a SPAC.
- SPACs, or Special Purpose Acquisition Companies, armed with hundreds of millions of dollars are already evaluating a variety of digital media ventures.
- SPACs are likely to eye media companies with name recognition, like Vice Media or Vox Media.
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Is Jonah Peretti’s BuzzFeed on a path to going public?
At small private industry dinners from Los Angeles to New York, executives from Special Purpose Acquisition Companies, or SPACs, are flooding the zone.
Last week, Buzzfeed stunned COVID-cowed medialand with news it was acquiring digital newspaper HuffPost from Verizon and giving the phone giant a stake in a larger entity. Verizon agreed to invest in the new company, sparking speculation that Peretti would try to add other companies while remaining independent,