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The Independent, a British online newspaper, has struck a merger deal with BuzzFeed. The agreement will allow the company to take over BuzzFeed’s online media sites in the United Kingdom and Ireland.
Merger of Digital Media Brands
According to The Guardian, The Independent and BuzzFeed agreed to a multiyear licensing arrangement. As part of the deal, the former will take over BuzzFeed’s online site, HuffPost U.K., and other sub-brands of the digital paper operating in the U.K., including Tasty.
The media companies will combine their publishing sites, data, and ad platforms and then operate as one. With the merged brands, the companies are looking to attract the millennials and Gen Zs and bring them in as regular readers. At any rate, the deal comes as BuzzFeed struggles amid the competitive media landscape today.
Formation of a Digital Supergroup
The cooperation of The Independent and BuzzFeed will allow them to form a digital supergroup managed by the former. As they operate together, the firms are also expected to share their respective innovation and expertise for the success of the newly formed brand. The plan is to use various platforms such as the web, video, and social media to reach more audiences and become an unrivaled authority in the online media space.
“This strategic partnership marks an important milestone in BuzzFeed’s 10-year presence in the U.K.,” BuzzFeed’s head of studio and executive vice president of global content, Richard Alan Reid, said in a press release. “We are thrilled to partner with The Independent, a powerhouse U.K. media company with vast experience in publishing.”
He added, “Their ambition in the digital space is hugely exciting, and we believe makes them the perfect partner to deepen the connection with our young, diverse audience. The synergies between our companies have been clear from day one, and we know this partnership will unlock new business, drive growth, and ultimately take both companies’ brands to the next level in the U.K. and Ireland.”
Photo by: AbsolutVision/Unsplash
