TIME Media

Report: Disney Was Buzzing Around BuzzFeed

The company was in talks to purchase BuzzFeed, but the deal went bust

Walt Disney Co. made a bid to buy BuzzFeed, Fortune reports, although the talks reportedly fell through when Disney set its eyes on Maker Studios.

Fortune says Disney’s talks to acquire BuzzFeed fell through because the website had a $1 billion price tag, money Fortune sources say the company wasn’t interested in dishing out for the web-based company. Disney is, however, shelling out $500 million to acquire video network Maker Studios, and the transaction could near $1 billion with possible earnouts.

BuzzFeed’s doing just fine on its own, however as it is expected to double its revenue in 2014, bringing in around $120 million. It also continues to grow—in recent weeks, the site has hired two Pulitzer Prize winning journalists.

Neither Disney nor BuzzFeed confirmed Fortune’s report, though a BuzzFeed spokesperson reportedly said the company is in no talks for acquisition and is “focused on becoming a big, independent company.”

[Fortune]

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