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The entertainment and culture publisher BuzzFeed Inc. is in advanced discussions to sell Complex Media, which it acquired in January 2021 for $300 million, to the livestream ecommerce platform Ntwrk, according to three people familiar with the transaction.
Ntwrk will pay roughly $140 million for the Complex Media assets, which include its portfolio of websites, experiential business, intellectual property and commerce operation. The deal is being managed by Credit Suisse.
Notably, the deal does not include the Complex franchises First We Feast or Hot Ones, which will remain under BuzzFeed Inc.