BuzzFeed Reshuffles Entertainment Group, Ze Frank Shifted to R&D Role

Read on: Variety.

Ze Frank is no longer running BuzzFeed’s entertainment division, and the digital-media company has reorganized the group with a more distributed structure. Frank, a four-year BuzzFeed veteran, has been appointed to the newly created role of chief research and development officer. He will head up a small R&D team focused on “creating production models for […]

BuzzFeed Sponsored Content Chief Leaves Company

Read on: TheWrapTheWrap.

BuzzFeed Chief Marketing and Chief Creative Officer Frank Cooper is leaving the company, TheWrap has learned.

Cooper is departing less than two years after taking over Buzzfeed’s creative services team. He was previously at PepsiCo Inc. and AOL, and worked closely with marketing executives and ad agencies to create sponsored content.

BuzzFeed did not provide additional comment.

Also Read: BuzzFeed Gets Another $200M From NBCUniversal

Last week, NBCUniversal made a $200 million investment in BuzzFeed. Recode reported the investment last month, saying it valued the digital publisher at $1.7 billion. NBCUniversal infused $200 million into BuzzFeed last year, valuing the company at $1.5 billion — indicating roughly the same valuation after factoring the new money.

Cooper reported to ad Sales boss Greg Coleman, according to the WSJ.

BuzzFeed reorganized itself into two separate departments earlier this year: an editorial side, led by BuzzFeed Editor-in-Chief Ben Smith, and an entertainment division, overseen by Ze Frank, the president of BuzzFeed Motion Pictures.
The Wall Street Journal first reported the news of Cooper’s departure.
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BuzzFeed Gets Another $200M From NBCUniversal

Read on: TheWrapTheWrap.

NBCUniversal has made an additional $200 million investment in BuzzFeed, the two companies confirmed in a Monday statement.

Recode reported the investment last month, saying it valued the digital publisher at $1.7 billion. NBCUniversal infused $200 million into BuzzFeed last year, valuing the company at $1.5 billion — indicating roughly the same valuation after factoring the new money.

BuzzFeed reorganized itself into two separate departments earlier this year: an editorial side, led by BuzzFeed Editor-in-Chief Ben Smith, and an entertainment division, overseen by Ze Frank, the president of BuzzFeed Motion Pictures.

Also Read: NBCUniversal Gives BuzzFeed Another $200 Million (Report)

“Over the past year, BuzzFeed has proven to be a valuable partner across our business,” Maggie Suniewick, President of NBCUniversal Digital Enterprises, said in the statement. “From the Olympics to the record-breaking launch of ‘Secret Life of Pets,’ BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms. We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies.”

“NBCUniversal has been a tremendous partner this past year and we can’t wait to do more with them,” BuzzFeed Founder and CEO Jonah Peretti said in the statement. “Our collaboration has allowed us to focus on our respective strengths, learn from each other, and serve our combined audience better with compelling news, entertainment, and advertising offerings that neither company could do on our own. The investment allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is.”

Related stories from TheWrap:

NBCUniversal Gives BuzzFeed Another $200 Million (Report)

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BuzzFeed to Reorganize With Separate News, Entertainment Divisions