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Disney tried to acquire BuzzFeed

6/17/2014

By Greg Gilman
TheWrap

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.

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.

Also on TheWrap:  Gawker Rips Buzzfeed in Ban on 'WTF,' 'Epic' and Other Internet Slang From Its Website

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."

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.

Related stories from TheWrap:

Aaron Sorkin Apologizes to Media for 'The Newsroom'

Gawker's Nick Denton Picks Fight With BuzzFeed, Calls Website 'Pointless'

Donald Trump Aide Resigns After Fallout From Controversial BuzzFeed Profile

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