BuzzFeed Inc and Verizon (VZ  ) have reached a deal for the former's purchase of Huffington Post. The sale will include a transfer of stock as well as an investment in BuzzFeed.

The deal was penned last week in a move that will bring HuffPost back under the wing of its co-founder, Jonah Peretti. The acquisition is hardly surprising given the continued consolidation of the media industry; consolidation of internet news outlets, in particular, has been a snowballing trend over the last few years, with mergers such as Vox Media acquiring New York Media or Vice Media acquiring Refinery29 being fairly common.

The acquisition will mostly be a stock deal, according to the companies. In addition to the stock exchange, Verizon has agreed to invest in BuzzFeed, though the amount has not been disclosed publicly. As part of the deal, both firms will syndicate each other's content and work together to look for new advertising opportunities.

HuffPost and Verizon both seemed to be relatively enthusiastic about the deal, issuing a joint statement enthusing about the shared audience of the two brands. However, underlining the deal is the relatively lower traffic both sites have been plagued by recently. Traffic to BuzzFeed is down almost a quarter, while traffic to HuffPost is down about 5%.

Jonah Peretti, however, seems undaunted. Speaking with Vox, Peretti expressed his desire to appeal to demographics that aren't covered by leading subscription-based publications such as the New York Times.

"Will a subscription newspaper that is read by a subset of society have as big an impact as it could on voters, on the broad public, on young people, on the more diverse rising generation of millennials and Gen Z?" he told Vox. "I think there's a huge opportunity to serve those consumers. And not all of them are going to be subscribers to any publication."

Despite enthusiasm by both companies and the potential in the join syndication and cooperation with advertising, Investors didn't seem to react to the deal, with Verizon stock remaining relatively unphased. On Thursday, when the deal was announced, Verizon shares ended the day 3% lower after fluctuating for much of the day. By noon on Monday, Verizon's investors still seemed ambivalent about the deal, with shares at roughly the same level as they had been at close on Thursday.