Jonah Peretti, Founder and CEO, Buzzfeed, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 18, 2017.
Lucy Nicholson | Reuters
This was the supposed to be the Summer of Digital Media.
Amidst a boom of special purpose acquisition companies (SPACs), companies including Buzzfeed, Vice, Vox, Bustle and others targeted this summer as a likely timeline for going public.
Five months into the year, executives and advisors now think that’s not going to happen.
A major slowdown in SPAC issuance, driven by new accounting guidance by the Securities and Exchange Commission, has forced many digital media companies to reassess their timeline on going public, according to four people familiar with the matter.
Buzzfeed is still expected to find a SPAC partner later this year, said three of the people, who asked not to be named because the discussions are private. But other companies, such as Vice and Bustle,…