'Profitability in the back half of next year': BuzzFeed CEO Jonah Peretti (and Verizon Media CEO Guru Gowrappan) on their big merger
Two of digital media's biggest players are merging into one, with the announcement last week that BuzzFeed will be acquiring HuffPost in an all-stock deal.
This episode of the Digiday Podcast hears from both sides of the transaction. First, senior reporter Kayleigh Barber interviews BuzzFeed CEO Jonah Peretti, who will be leading both companies as they remain separate but share resources on fronts including advertising and content syndication.
Senior media editor Tim Peterson then follow with an interview with HuffPost’s seller — Verizon Media CEO Guru Gowrappan— about the complementary audiences, products and goals he envisions for the two sites.
"What I've told Jonah is, 'now it's your time to take this and grow. And we want to make sure we are syndicating and we are working with you on ads, working with you on commerce," Gowrappan said. "That's how we're going to measure success."
Verizon Media will have a minority stake in BuzzFeed, though Gowrappan is keeping its size a secret.
For his part, Peretti believes "there's a strong possibility of profitability in the back half of next year."