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

Posted by BeauHD on from the 50/50 dept.

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.

4 of 22 comments (clear)

  1. BUZZWORD BINGO by lucm · · Score: 4, Funny

    That Verizon guy is a champion.

    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

    Days like this I feel like the Amish are onto something

    --
    lucm, indeed.
    1. Re:BUZZWORD BINGO by Kazoo+the+Clown · · Score: 2

      And aren't they rumored to be looking to buy Yahoo as well? You got to give them credit, they really know how to pick the losers...

    2. Re:BUZZWORD BINGO by Hognoxious · · Score: 2

      The best business to be in would be selling whatever it is they're smoking.

      --
      Confucius say, "Find worm in apple - bad. Find half a worm - worse."
  2. Video is such an awful value proposition for consu by Anonymous Coward · · Score: 2, Interesting

    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.