Disney Tried to Acquire BuzzFeed

The media outlet was, apparently, too pricey for the Magic Kingdom

Last Updated: August 4, 2014 @ 10:12 AM

Keep an eye out on Facebook for BuzzFeed’s next listacle: 21 Reasons Disney Didn’t Acquire Us.

Fortune reports that the Walt Disney Co. was in negotiations earlier this year to acquire the media outlet famous for providing all of those lists about things you never knew you cared about, as well as serious, in-depth journalism.

Also read: Gawker Rips Buzzfeed in Ban on ‘WTF,’ ‘Epic’ and Other Internet Slang From Its Website

The finance publication cites the popular website’s $1 billion price tag as the main reason talks fell through. Disney’s $500 million purchase of multi-channel online network Maker Studios may have also cooled the entertainment conglomerate’s interest in BuzzFeed.

A BuzzFeed spokesperson declined comment on Fortune’s story, but added that the New York-based organization “is focused on becoming a big, independent company.”

Also read: Donald Trump Aide Resigns After Fallout From Controversial BuzzFeed Profile

CEO Jonah Peretti wrote in a letter to employees last fall that the company had hit profitability with more than 300 employees and 85 million monthly unique visitors. According to Bloomberg, BuzzFeed is on track to double its 2013 revenue stream with up to $120 million in profits in 2014.


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