BuzzFeed to Acquire Complex Networks; Merge With 890 5th Avenue Partners to Become Public
December 3, 2021
BuzzFeed agreed to merge with SPAC 890 5th Avenue Partners, Inc. to become a publicly listed company, with the combination expected to close in Q4 2021. In connection with the merger, BuzzFeed also agreed to acquire global youth entertainment network Complex Networks for $300 million, consisting of $200 million in cash and $100 million in BuzzFeed equity, with completion expected simultaneously upon closing of the BuzzFeed–890 deal.
- Buyers
- BuzzFeed, Inc., 890 5th Avenue Partners, Inc., Redwood Capital Management, LLC, CrossingBridge Advisors, Cohanzick Management, Silver Rock Financial LP
- Targets
- Complex Networks
- Sellers
- Hearst, Verizon
- Platforms
- BuzzFeed, Inc.
- Industry
- Media & Entertainment
- Location
- United States
- Transaction Type
- Buyout
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