Reed Smith LLP

Reed Smith advises Complex Networks in deal with BuzzFeed

Home News Reed Smith advises Complex Networks in deal with BuzzFeed
NEW YORK – Global law firm Reed Smith represented Complex Networks in its proposed transaction with BuzzFeed, in which BuzzFeed will acquire Complex from Verizon and Hearst for $300 million – consisting of $200 million in cash and $100 million of equity in BuzzFeed. The acquisition of Complex, a global youth entertainment company, was announced following BuzzFeed’s disclosure that it is planning to go public by merging with 890 Fifth Avenue Partners, a special purpose acquisition company (SPAC).
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The Reed Smith team is also representing Verizon and Hearst in their capacity as selling shareholders of Complex. Complex Networks includes Complex, First We Feast, Pigeons and Planes, Sole Collector and its festival of cultural convergence ComplexCon. Complex Networks will remain editorially independent but will benefit from BuzzFeed’s data science, distribution network and lines of business.

Jennifer Cheng, U.S. vice-chair of the firm’s Global Corporate Group (NY), led the Reed Smith team, which included Susan Nieto (counsel, PHI), Terrence Fairfield (associate, NY), Emerson Bianchi (associate, NY), Brian Tratner (associate, NY), Yuxin Jin (associate, NY), James Tandler (partner, NY), Simon Kliegman (associate, NY), Kevin Kay (partner, NY), Zachary Baker (associate, PGH), Michael Kleinmann (counsel, LA), Tadashi Okamoto (partner, NY), Ari Edelman (partner, NY), Peter Emmi (partner, NY), Michelle Mantine (partner, PGH), and Thomas Marrinson (partner, CHI).

More information about the transaction is available in the company’s news release at businesswire.com.