Verizon and Hearst Team Up To Buy Complex Media (techcrunch.com)

An anonymous reader quotes a report from TechCrunch: Verizon Wireless and Hearst Corp. are set to jointly acquire Complex Media. The "video-first" lifestyle site, focused on pop-culture trends and general entertainment, will continue to operate independently, albeit with Verizon and Hearst now each owning 50 percent stakes in the company. Complex CEO and co-founder Rich Antoniello will continue to lead the company. The WSJ reports that the deal values Complex Media between $250 million and $300 million. "The decision to acquire Complex is certainly a continuation of our media strategy, which is focused on disruption that is occurring in digital media and content distribution, and involves building a portfolio of the emerging digital brands of the future for the millennial and Gen-Z audience," said Brian Angiolet, Verizon's senior vice president of consumer product and marketing.

Comments

Video is such an awful value proposition for consu

[Anonymous Coward]

For a given amount of content, video is easier to produce and insert interstitial advertising than text plus maybe graphics, but takes much longer for a person to digest or to retrieve bits of information from. If a web site wants to disengage me, the easiest way is to hide content behind a "play" button.