Verizon and Hearst Corp. have been very busy lately in the media world. Recently the two mega companies have teamed up to invest in several media outlets including AwesomenessTV and launching two channels, and Seriously.TV aimed at millennials. And now Complex Media has been added to the list of media companies they are diligently working to acquire. The official terms of the agreement have not surfaced as of yet, but Complex CEO and co-founder, Rich Antoniello, will continue to be the head of the company.

So why Complex? According to company officials, “the company reaches more than 50 million unique monthly visitors and delivers 300 million monthly video views, representing 415% year-over-year growth.” Since 2010 the media company has proven to be a reliable source for entertainment news, hip-hop music, sneaker culture, food, culture and much more.

During the announcement of the deal, Brian Angiolet, Verizon’s senior VP of consumer product and marketing, said: “The decision to acquire Complex is certainly a continuation of our media strategy, which is focused on disruption that is occurring in digital media and content distribution, and involves building a portfolio of the emerging digital brands of the future for the millennial and Gen-Z audience.”

Neeraj Khemlani, co-president of Hearst Entertainment & Syndication, also added, “Complex will turn up the volume on our growing portfolio with Verizon, complementing the audiences targeted with our other channel investments… Complex’s smart, fresh content aims squarely at the ever elusive young male demo and drives unparalleled engagement with that audience across every social channel.”

With all of that being said, Verizon Hearst Media Partners is definitely the team to watch!

Photo: popkey

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