HuffPost is reportedly on the auction block – TechCrunch

Late final evening the Financial Times reported that HuffPost, arguably certainly one of the crown jewels of Verizon Media Group’s remaining community of media properties (which incorporates TechCrunch), is up on the market.

Verizon has been shedding media properties in a retreat from the technique that it had begun to execute with the acquisition of AOL for $4.Four billion again in 2015. Through the AOL deal, then-chief government Tim Armstrong grew to become the architect of the telecommunications firm’s media and promoting technique.

Armstrong’s imaginative and prescient was to roll up as a lot on-line actual property as he might whereas making a excessive know-how promoting structure on the back-end that would higher goal shoppers primarily based on their media consumption (which the telecom firm would additionally personal).

The concept was to offer a broad-based competitor to the attain of advert platforms on Google and Facebook which have been additionally focusing on customers primarily based on their searching historical past and pursuits. The profit that Google and Facebook had was that they’d a extra holistic view of what shoppers did on-line and so they positioned themselves as a distribution channel between media corporations and customers — basically redistributing their articles and movies and hoovering up the advert {dollars} that had beforehand gone to these media corporations.

The multi-billion greenback land seize continued when Verizon paid $4.5 billion for Yahoo in 2017.

Now it seems that Verizon has a multi-billion greenback case of purchaser’s regret. Part of the billions that Verizon spent on Yahoo was for the early social community Tumblr, which Yahoo had acquired for $1.1 billion again in 2013.

Earlier this yr Verizon unloaded Tumblr for the value of a luxurious Manhattan residence. That $three million sale was presaged by the important fall from grace of different former high-flying media and tech properties.

Vice was as soon as price $5.7 billion at the top of the media funding bubble, however earlier this yr Disney wrote down its stake in the firm to just about nothing.

At least Vice is rising as a survivor. the firm has rolled up Refinery29. Vox Media is additionally doing nicely in the new world of media. It purchased Recode again in 2015 and not too long ago acquired the writer behind New York Magazine to broaden its purview into paper publications and get its arms on the fashionable New York web sites Intelligencer, The Cut, Vulture, and Grub Street.

Other publications like Hello Giggles, which was based by the actress Zooey Deschanel, have been offered to Time Magazine. High-fliers like Buzzfeed, HuffPost, Vice and Vox have all needed to lay off employees in current months.

It’s been a wild trip for HuffPost, which started in 2005 as a group of superstar bloggers introduced collectively below the auspices of Arianna Huffington, from whom the website took its title.

AOL acquired The Huffington Post again in 2011 in a deal that was valued at $315 million lower than a yr after selecting up TechCrunch for $25 million.

Verizon introduced layoffs throughout its media properties at the starting of the yr. It reduce roughly 7 % of its employees — or round 800 jobs — together with some at HuffPost.

In an announcement to the Financial Times, Verizon mentioned that it might not remark on rumors and hypothesis.

Neither Verizon Media nor HuffPost responded to a request for remark by the time of publication.

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