BuzzFeed Close to Selling Complex for Above $100m: Information

BuzzFeed is close to an agreement to sell most of its Complex Networks business to the e-commerce startup Ntwrk for slightly more than $100 million, The Information reports, citing unidentified people familiar with the matter.

• The sale price will be below the CEO’s target of close to $150 million
• BuzzFeed may look to other assets to raise cash to pay off notes and accrued interest by next December
• Going forward, company is focused on growing its portfolio of media sites including HuffPost and First We Feast as standalone businesses operating under the BuzzFeed umbrella

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