Last month, Bloomberg reported that BuzzFeed, facing financial headwinds of its own, had declared its openness to parting ways with elements of its portfolio to keep itself afloat.
Interest immediately turned to Tasty, a prized food media asset credited with inventing the “hands and pans” video format that became ubiquitous in food media for a period. BuzzFeed had previously explored selling Tasty in 2024, when it parted ways with Complex for $108 million, but ultimately held onto the brand.
A spokesperson for BuzzFeed declined to comment on the record, pointing instead to the recent remarks made by its CEO Jonah Peretti.
Likewise, another stalwart of the digital media era has lately come under scrutiny for its purported plans to divide up its kingdom.
Vox Media, home to a growing podcast network and a broader stable of editorial brands, has entertained a number of options for divestiture, including a spin-off of its podcast network, the sale of New York Magazine to minority shareholder Penske Media, and the individual apportioning of key brands to qualified buyers, according to four people familiar with the business.
In fact, one of its strongest brands, Eater, has been a key player in these discussions, according to two of the people.
A spokesperson for Vox Media declined to comment on the record.
In recent months, Eater has undergone a slight glow-up, debuting a redesigned app, a slate of new newsletters, and an expanded video repertoire. It has shifted its focus more toward utility than entertainment, a pivot most visible in the relaunch of its app, which now foregrounds restaurant discovery and reservation-making.
The overhaul makes Eater a tidy fit for the growing cohort of food technology companies increasingly set on owning the so-called “dining economy.”
Wonder, the food technology firm founded by Marc Lore, established the archetype for this new buyer.
The company has raised $1.85 billion in total funding since launch, with $1.5 billion of that coming in the past year alone. With those funds, it has built a network of ghost kitchens and food halls, acquired the meal-kit delivery service Blue Apron, the food delivery platform Grubhub, and the food media brand Tastemade. Its stated aim, according to Lore, is to become the “meal-time super app,” delivering groceries, dinner, meal kits, or inspiration, depending on the mood of the user.
In response, its competitive set has similarly begun exploring a verticalized approach to the food and dining market.
Last May, Doordash acquired both Deliveroo and the reservation service SevenRooms for more than $5 billion. In October, Uber Eats struck a retail media partnership with Kroger, and Instacart has been integrating its grocery-delivery service into platforms ranging from TikTok to NYT Cooking.
