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Verizon is scrambling to sell HuffPost

Verizon is in a hurry to sell their digital news publication, HuffPost (Formerly Huffington Post). HuffPost was purchased by Verizon in 2015 as part of the telecom company’s $4.4 billion purchase of AOL.

According to the New York Post, Verizon has been pitching the company to prospective buyers like Group Nine Media, Rolling Stones publisher Penske Media, Bustle Media, and J2 Global, as well as other companies. Vox Media is also in discussions to purchase HuffPost.

Verizon is looking to unload the website as it loses money hand over fist. According to the Post, HuffPost brings in between $45-50 million in revenue but the company spends $60-70 million.

Verizon’s ideal situation would be to own a minority stake in the company while the majority owner takes on the losses and runs the day-to-day of the site.

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Ruben Jay
Ruben Jay
Ruben Jay is an American broadcaster, media blogger, and podcast host. Currently, Ruben is the President of MultiMediaMouth.com and the executive producer and host of the popular podcasts You’re My Best Friend and ON AIR with Ruben Jay, exclusively on MultiMediaMouth.com. Follow Ruben on Instagram, Twitter, and Tiktok @TheRubenJay.

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