HuffPost is under new ownership, as Verizon Media has come to terms on an agreement to transfer ownership of the news platform to BuzzFeed.

The Wall Street Journal initially reported the transaction, characterizing it as an arrangement involving stock. Alongside the sale, Verizon Media will be investing in BuzzFeed and will hold a minority stake in the digital media organization.

This agreement also establishes a framework for content sharing between the two companies, alongside collaborative efforts in advertising and the formation of a shared innovation team focused on identifying additional revenue streams.

According to BuzzFeed’s official announcement, this acquisition represents a return to its origins for HuffPost, given that BuzzFeed co-founder and CEO Jonah Peretti was also instrumental in establishing the platform originally known as The Huffington Post.

“My early experiences building HuffPost into a prominent news source are clear in my mind, but BuzzFeed is pursuing this acquisition because we are confident in HuffPost’s future and its capacity to continue shaping the media environment for many years,” Peretti stated. “Integrating HuffPost will expand our media network’s reach, resulting in significantly greater user engagement with our content compared to our competitors.”

Nearly ten years ago, AOL purchased The Huffington Post for $315 million, shortly after acquiring TechCrunch.

This purchase was considered a significant step into journalism and digital media; however, a series of organizational shifts followed, including AOL’s acquisition by Verizon, Verizon’s subsequent purchase of Yahoo, and the rebranding of the combined entity first as Oath and then as Verizon Media (which continues to own TechCrunch). Tim Armstrong, the leader who initiated the acquisition, left the company in 2018.

Reports regarding a potential sale of HuffPost have surfaced periodically over the years. Last year, Verizon Media CEO Guru Gowrappan affirmed that the company was “not selling HuffPost” as it remained “central to our content.”

BuzzFeed is currently seeking a new editor-in-chief for HuffPost, a position that has been vacant since Lydia Polgreen’s departure in March.

Update: The Writers Guild of America, East — the union representing HuffPost staff — released the following statement: