Todd Spangler NY Digital EditorVerizon’s sale of news and opinion site HuffPost to BuzzFeed resulted in the telco taking a $119 million charge for the fourth quarter of 2020.In announcing Q4 earnings Tuesday, Verizon said the results included a net loss of $119 million “primarily related to the disposition of the HuffPost business.” When the companies announced the pact in November, they said the HuffPost transaction was part of a larger strategic partnership across content and advertising between BuzzFeed and Verizon, under which Verizon Media took minority stake in BuzzFeed.The last three months of 2020 represented a bright spot for Verizon Media — which posted its first year-over-year revenue gain since buying Yahoo in 2017.
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