BuzzFeed announced Thursday plans to go public in a SPAC merger expected to close in the fourth quarter in a deal that values the company at $1.5 billion as the digital media space continues to transform.The 15-year-old digital media group founded by Johan Peretti will also acquire digital outlet Complex Networks from Hearst and Verizon for $300 million.
The SPAC, or special purpose acquisition company, called 890 Fifth Avenue Partners, holds $288 million in cash.BuzzFeed has also secured approximately $150 million in convertible note financing led by Redwood Capital Management and including CrossingBridge Advisors, Cohanzick Management, and Silver Rock Financial.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.