thewrap.com
reports
NBCUniversal Expects to Lose $100 Million on BuzzFeed’s Plan to Go Public Via SPAC (Report)
Reading now: 836
thewrap.com
thewrap.complanned to go public via a SPAC.Digital publisher BuzzFeed’s plan was to merge with a special-purpose acquisition company, but NBCUniversal leaders were disappointed that at BuzzFeed’s value of $1.5 billion, which is below where it was in previous years, The Wall Street Journal reported.
In the deal, NBCUniversal could be facing a loss of $75 to $100 million, depending on the stock price, the report said.BuzzFeed was seeking a $1.5 billion valuation based on a projected profit of $117 million by the end of 2022.
Most of it was pitched as coming from e-commerce revenue. The valuation was 13 times the profit, which was more in line with a tech company rather than a content publisher.“Virtually all companies are cloaking themselves in a mantle.
Read more on thewrap.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Report this news
Related News
Celebrities
Locations