BuzzFeed acquires HuffPost in tie-up of digital media rivals

BuzzFeed said Thursday it was acquiring HuffPost in a deal uniting two digital media pioneers seeking fresh momentum in a troubled sector.

The deal allows BuzzFeed to take over HuffPost from parent firm Verizon Media, and to use content from other Verizon properties including Yahoo, according to a statement from the companies.

It also makes Verizon a minority shareholder in BuzzFeed, with the two firms agreeing to a strategic partnership for content and advertising.