BuzzFeed, Inc. Announces Sale of Complex to NTWRK in All-Cash Deal [Yahoo! Finance]
BuzzFeed, Inc. - Class A (BZFD)
Company Research
Source: Yahoo! Finance
Company Also Announces Plans for Strategic Restructuring to Drive Annualized Cost Savings of Approximately $23M NEW YORK, February 21, 2024 BUSINESS WIRE )--BuzzFeed, Inc. (Nasdaq: BZFD) today announced the closing of its sale of Complex to NTWRK to form a new and wide-ranging destination for the future of commerce and media, in an $108.6 million all cash deal. In addition to the $108.6 million purchase price, the company received approximately $5.7 million related to the use of the company's NY offices and severance- and other employment-related costs. Refer to the Company's 8-K filed with the SEC on February 21, 2024 for additional details. The divestiture of Complex is expected to enhance the company's profitability and allow for greater focus on BuzzFeed, HuffPost, First We Feast (including Hot Ones) and Tasty. The company also announced a planned strategic restructuring intended to reduce expenses by implementing a 16% reduction in the remaining workforce, which is expecte
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News
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BZFD
Earnings
- 8/8/23 - Miss
BZFD
Sec Filings
- 5/2/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- BZFD's page on the SEC website