BuzzFeed will be acquiring HuffPost, merging two of the largest digital media outlets. HuffPost will continue to publish as a separate subsidiary of BuzzFeed, and its editor-in-chief—currently a vacant position—will report to BuzzFeed editor Mark Schoofs, he wrote in a staff email Thursday. “Our business strategy is to make sure that the two newsrooms maintain their own identities to preserve the big and loyal audiences that each has built up,” Schoofs wrote. Verizon, HuffPost’s former parent company, will also now be investing in BuzzFeed, the letter read. The consolidation follows a greater trend in the media industry. Last year, Vox Media acquired New York Magazine, while Vice Media merged with Refinery29. The financial terms of the agreement have yet to be disclosed.
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