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Hearst and Verizon Will Jointly Acquire Complex

Photo: Complex

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Hearst is teaming up with Verizon to acquire Complex, Variety reports, and the two companies are going to share the style, music and pop culture publication 50-50.

If the words "Hearst" and "Complex" sound familiar, it could be because of last year's news that Hearst invested $21 million into the web and print platform last fall.

Verizon and Hearst have been partnering up lately on various ventures, especially in video. Complex, which says it has been profitable since 2010, is honing in on video.

"Complex will turn up the volume on our growing portfolio with Verizon, complementing the audiences targeted with our other channel investments," Neeraj Khemlani, co-president of Hearst Entertainment & Syndication, said in a statement. "Complex’s smart, fresh content aims squarely at the ever elusive young male demo and drives unparalleled engagement with that audience across every social channel."

Rival publisher Condé Nast acquired music site Pitchfork last fall in search of a similar demographic. Or as Conde Nast’s Chief Digital Officer Fred Santarpia told NYT, "a very passionate audience of Millennial males," to the ire of female musicians and music fans.