BuzzFeed is negotiating a sale of much of Complex Networks to Ntwrk, an e-commerce company backed by LiveNation Entertainment and Main Street Advisors, for under $140 million, less than half of what it paid to acquire it two years ago.
Complex Networks and Fuse Media don’t have common ownership or joint oversight of any particular media property. But in days to come, they will begin to work together to sell packages of media inventory to advertisers. In a deal announced Friday, the two companies said Complex would begin to air a weekly 90-minute block of programming built from segments from many of its digital shows on Fuse’s cable network. Both Fuse and Complex Networks will promote the programming as a venue for reaching a multi-cultural audience between the ages of 18 and 34.