Report: BuzzFeed to go public, acquire lifestyle publisher Complex Networks
BuzzFeed may buy digital lifestyle publisher Complex Networks in a deal that would also have it merge with special acquisition company 890 Fifth Avenue Partners and go public, the Information reported Tuesday.
BuzzFeed will acquire Complex — which owns media brands “First We Feast,” “Sole Collector,” and “Pigeons and Planes” — after the merger with 890 Fifth Avenue Partners is completed.
The transaction values BuzzFeed slightly less than its peak valuation of $1.7 billion, the Information reported.
“We have no news to announce today, and can’t confirm or comment on potential acquisitions or other plans,” a BuzzFeed spokesman said about the rumored deal. 890 Fifth Avenue Partners did not immediately respond to requests for comment from The Hill.
The BuzzFeed news broke a day after news leaked of a similar deal involving Vice Media and investment company 7GC & Co Holdings which valued Vice at almost $3 billion.
News also broke at the end of April of a possible special acquisition company, or SPAC, deal that would take Forbes Media public.
Earlier in the year, it was rumored that Axios and subscription-based sports media company the Athletic were to be involved in a SPAC transaction. However, that deal now appears to be dead.