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Latest SPAC News: Comcast dumps 18.5% of its BuzzFeed stock

Comcast Dumps 6 Million Shares of Buzzfeed After Media Company Finally Gets a Bump

Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its holdings in the online media company to just under 20% of the shares.

Comcast said its NBCUniversal unit netted almost $15.7 million in sales of 5.7 million shares since Monday in a regulatory filing.

In 2015, NBCUniversal invested $200 million in BuzzFeed and had plans to distribute its content on the digital news site. In the filing, NBCUniversal said it still owns more than 25 million shares, or 19.97% of BuzzFeed’s outstanding stock, but said it may continue selling.

BuzzFeed completed its merger with 890 5th Avenue Partners in December 2021.

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