ENFA - BuzzFeed CEO wants to be 'consolidator' in the media space

Drew Angerer/Getty Images News Jonah Peretti, co-founder and CEO of BuzzFeed, said Thursday that the company wanted to be the consolidator in the media space and that a SPAC IPO provides a vehicle to achieve that goal. Peretti told CNBC that funds raised through the SPAC transaction would allow it to go public, strengthen its balance sheet and purchase Complex Networks in an accelerated timeframe. Earlier on Thursday, BuzzFeed revealed a deal to come public through a SPAC merger with 890 Fifth Avenue Partners (ENFA). The deal values the online media company at $1.5B. On its acquisition plans, the BuzzFeed CEO said that it can offer an ideal structure for more niche brands because of its scale and ability to generate revenue through its advertising and commerce platforms. Commenting on a slide in valuation from 2016, when the company had fetched a potential valuation of $1.7B, Peretti suggested that the

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BuzzFeed CEO wants to be 'consolidator' in the media space