Hearst Corp. has acquired a minority stake in Complex, via a $21 million investment. Complex publishes a bi-monthly magazine and owns several other sites, including PigeonsandPlanes.com, FourPins.com and FirstWeFeast.com.
“This is an important investment for us and one we view as a crucial strategic play,” said Complex CEO Rich Antoniello, in a statement. “As we look towards further expansion in digital and linear entertainment, Complex will have access to the extensive expertise, scale and partnerships that only a global media company like Hearst could offer.”
Hearst Entertainment and Syndication co-president and Hearst Digital Studios president Neeraj Khemlani described Complex as a “fast growing digital media and streaming video company.”