GEDI Gruppo Editoriale S.p.A. completed acquisition of 51% stake in Huffingtonpost Italia S.r.l. from BuzzFeed, Inc.
August 30, 2021
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GEDI Gruppo Editoriale S.p.A. reached a preliminary agreement to acquire remaining 51% stake in Huffingtonpost Italia S.r.l. from BuzzFeed, Inc on June 3, 2021. Based on the agreements, GEDI will take up 51% of the share capital in the joint venture that has been held by The Huffington Post LLC (BuzzFeed Group) up to now, to bring its stake in the company to 100%. GEDI will guarantee editorial continuity through an exclusive licence for Italy of the The Huffington Post brand and its appointee concessionaire A. Manzoni & C. will manage its advertising revenue. The transaction is subject to the customary regulatory approval and is expected to be finalized by the end of the third quarter of the year. Christopher Mesnooh of Fieldfisher France LLP acted as legal advisor to BuzzFeed, Inc.
GEDI Gruppo Editoriale S.p.A. completed acquisition of 51% stake in Huffingtonpost Italia S.r.l. from BuzzFeed, Inc on August 2021.
BuzzFeed, Inc. is a digital media company for the diverse, online, and socially connected generations across entertainment, news, food, pop culture and commerce. Its brands drive conversation and inspire what audiences watch, read and buy. Its brands include BuzzFeed, HuffPost, Tasty, and First We Feast (including Hot Ones). Its flagship BuzzFeed brand has become a go-to authority for curating entertainment, pop culture and the Internet. With articles, lists, quizzes, videos, and original series. HuffPost is a global media platform for news, politics, opinion, entertainment, features, and lifestyle content. Tasty is engaged in food community on the Internet, pioneering the overhead video format that is ubiquitous across food brands, and is a platform for food creators. It provides its advertising customers with a range of offerings, including display, programmatic and video advertising inventory to target users on its owned and operated sites, applications and third-party platforms.
BUZZFEED, INC. 
