SEC Form SC 13G/A filed by BuzzFeed Inc. (Amendment)

2/9/24 5:11:20 PM ET

$BZFD

Telecommunications Equipment

Consumer Discretionary

Get the next $BZFD alert in real time by email

SC 13G/A 1 ef20021295_sc13a.htm SC 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

BuzzFeed, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

12430A 102

(CUSIP Number)

December 31, 2023

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

	☐	Rule 13d-1(b)
	☒	Rule 13d-1(c)
	☐	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

13G/A

CUSIP No. 12430A 102

1	NAMES OF REPORTING PERSONS
	HDS II, Inc.

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☒
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			5,000,000

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			5,000,000

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	5,000,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	3.62%, calculated on the basis of there being 138,228,523 shares of Class A common stock outstanding as of November 1, 2023, as disclosed in Issuer’s 10-Q filed November 3, 2023

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 12430A 102

1	NAMES OF REPORTING PERSONS
	Hearst Communications, Inc.

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☒
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			11,494,795

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			11,494,795

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	11,494,795

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.32%, calculated on the basis of there being 138,228,523 shares of Class A common stock outstanding as of November 1, 2023, as disclosed in Issuer’s 10-Q filed November 3, 2023

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 12430A 102

1	NAMES OF REPORTING PERSONS
	Hearst Holdings, Inc.

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☒
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			11,494,795

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			11,494,795

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	11,494,795

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.32%, calculated on the basis of there being 138,228,523 shares of Class A common stock outstanding as of November 1, 2023, as disclosed in Issuer’s 10-Q filed November 3, 2023

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 12430A 102

1	NAMES OF REPORTING PERSONS
	The Hearst Corporation

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☒
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			11,494,795

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			11,494,795

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	11,494,795

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.32%, calculated on the basis of there being 138,228,523 shares of Class A common stock outstanding as of November 1, 2023, as disclosed in Issuer’s 10-Q filed November 3, 2023

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 12430A 102

1	NAMES OF REPORTING PERSONS
	The Hearst Family Trust

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☒
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	California

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			11,494,795

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			11,494,795

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	11,494,795

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.32%, calculated on the basis of there being 138,228,523 shares of Class A common stock outstanding as of November 1, 2023, as disclosed in Issuer’s 10-Q filed November 3, 2023

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO (testamentary trust)

CUSIP No. 12430A 102

ITEM 1.

(a)

Name of Issuer: BuzzFeed, Inc.

(b)

Address of Issuer's Principal Executive Offices: 229 West 43^rd Street, New York, NY 10036

ITEM 2.

(a)

Name of Person Filing: This Statement is filed on behalf of each of the following persons:

HDS II, Inc., a Delaware corporation (“HDS II”);

Hearst Communications, Inc., a Delaware corporation (“HCI”);

Hearst Holdings, Inc., a Delaware corporation (“HHI”);

The Hearst Corporation, a Delaware corporation (“THC”); and

The Hearst Family Trust, a testamentary trust (the “Trust”).

(b)

Address of Principal Business Office, or if None, Residence: The principal business office of each of HDS II, HCI, HHI, THC, and the Trust is 300 West 57^th Street, New York, New York 10019.

(c)

Citizenship: Each of HDS II, HCI, HHI and THC is a Delaware corporation. The Trust is a testamentary trust that was probated in California.

(d)

Title of Class of Securities: Class A Common Stock, par value $0.0001 per share

(e)

CUSIP Number: 12430A 102

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

(a)	☐	Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b)	☐	Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)	☐	Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)	☐	Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)	☐	An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
(f)	☐	An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F);
(g)	☐	A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G);
(h)	☐	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	☐	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	☐	Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).

Not applicable.

ITEM 4. OWNERSHIP.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)

Amount beneficially owned: HDS II is the beneficial owner of 5,000,000 shares of Class A Common Stock of the Issuer, and HCI is the beneficial owner of 6,494,795 shares of Class A Common Stock of the Issuer. Pursuant to the definition of "beneficial owner" set forth in Rule 13d-3 under the Securities Exchange Act of 1934, as amended, each of HDS II, HCI, HHI, THC and the Trust may be deemed to beneficially own such securities. HCI has the power to direct the voting and disposition of the Class A Common Stock of the Issuer held by HDS II as the controlling stockholder of HDS II. HHI has the power to direct the voting and disposition of the Class A Common Stock of the Issuer held by HDS II and HCI as the controlling stockholder of HCI. THC has the power to direct the voting and disposition of the Class A Common Stock of the Issuer held by HDS II and HCI as the controlling stockholder of HHI. The Trust has the power to direct the voting and disposition of the Class A Common Stock of the Issuer held by HDS II and HCI as the controlling stockholder of THC. Accordingly, for purposes of this Statement, (i) each of HDS II and HCI is reporting that it shares the power to direct the voting and disposition of the Class A Common Stock of the Issuer directly owned by it and (ii) HCI (solely for purposes of shares beneficially owned by HDS II), HHI, THC and the Trust are reporting that they share the power to direct the voting and disposition of the Class A Common Stock of the Issuer held by HDS II and HCI beneficially owned by HDS II and/or HCI.

(b)

Percent of class:

HDS II: 3.62%

HCI: 8.32%

HHI: 8.32%

THC: 8.32%

Trust: 8.32%

(c)

Number of shares as to which such person has:

HDS II

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote: 5,000,000

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of: 5,000,000

HCI

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote: 11,494,795

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of: 11,494,795

HHI

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote: 11,494,795

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of: 11,494,795

THC

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote: 11,494,795

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of: 11,494,795

Trust

(i)

Sole power to vote or to direct the vote:

(ii)

Shared power to vote or to direct the vote: 11,494,795

(iii)

Sole power to dispose or to direct the disposition of:

(iv)

Shared power to dispose or to direct the disposition of: 11,494,795

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

Not applicable.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

Not applicable.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

Not applicable.

ITEM 9. NOTICE OF DISSOLUTION OF GROUP.

Not applicable.

ITEM 10. CERTIFICATIONS.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 9, 2024

HDS II, INC.

	By:	/s/ Mitchell I. Scherzer
	Name:	Mitchell I. Scherzer
	Title:	President

HEARST COMMUNICATIONS, INC

	By:	/s/ Mitchell I. Scherzer
	Name:	Mitchell I. Scherzer
	Title:	Executive Vice President and Chief Financial Officer

HEARST HOLDINGS, INC.

	By:	/s/ Mitchell I. Scherzer
	Name:	Mitchell I. Scherzer
	Title:	Executive Vice President and Chief Financial Officer

THE HEARST CORPORATION

	By:	/s/ Mitchell I. Scherzer
	Name:	Mitchell I. Scherzer
	Title:	Executive Vice President and Chief Financial Officer

THE HEARST FAMILY TRUST

	By:	/s/ Mitchell I. Scherzer
	Name:	Mitchell I. Scherzer
	Title:	Trustee

LIST OF EXHIBITS

Exhibit No.		Description

A		Joint Filing Agreement (incorporated by reference to Exhibit A Schedule 13G filed by the Reporting Persons on December 3, 2021)

Get the next $BZFD alert in real time by email

Date	Price Target	Rating	Analyst
11/22/2022	$3.00 → $2.00	Outperform → Market Perform	Cowen
8/11/2022	$4.50 → $2.00	Neutral → Underperform	BofA Securities
2/4/2022	$5.00	Neutral	BofA Securities
1/12/2022	$7.50	Buy	Craig Hallum
1/10/2022	$7.00	Outperform	Cowen

SEC Form SC 13G/A filed by BuzzFeed Inc. (Amendment)

Chat with this insight

Recent Analyst Ratings for
$BZFD

$BZFD
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Chief Accounting Officer Weinstein Daniel converted options into 3,749 shares and covered exercise/tax liability with 1,352 shares, increasing direct ownership by 25% to 11,987 units (SEC Form 4)

CLO Arroyo David converted options into 25,845 shares and covered exercise/tax liability with 10,419 shares, increasing direct ownership by 21% to 88,062 units (SEC Form 4)

CFO Omer Matthew converted options into 62,085 shares and covered exercise/tax liability with 22,155 shares, increasing direct ownership by 29% to 177,888 units (SEC Form 4)

$BZFD
Press Releases

Fastest customizable press release news feed in the world

BuzzFeed, Inc. Delivers Strong Q3 Financial Results

BuzzFeed, Inc. to Release Third Quarter 2024 Financial Results on Tuesday, November 12, 2024

BuzzFeed, Inc. Posts Strong Q2 Financial Results and Expects Continued Improvement in Q3

$BZFD
Large Ownership Changes

This live feed shows all institutional transactions in real time.

$BZFD
Leadership Updates

Live Leadership Updates

$BZFD
Market Insights

Live Market Insights

$BZFD
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Amendment: SEC Form SC 13G/A filed by BuzzFeed Inc.

Amendment: SEC Form SC 13G/A filed by BuzzFeed Inc.

SEC Form SC 13D/A filed by BuzzFeed Inc. (Amendment)

BuzzFeed Studios And Acast Launch New Podcast, "Am I Doing It Wrong?" Presented By HuffPost

LOST iN Acquires BuzzFeed's Travel Vertical Bring Me!; No Financial Terms Disclosed

Social Media Personality Pulte X Post Stating "The Pulte Family Acquires Activist Position in BuzzFeed And Supports Changes Proposed by Vivek Ramaswamy..."; Shares Halt On Circuit Breaker To The Upside, Stock Now Up 17.1%

BuzzFeed shares are trading higher after Vivek Ramaswamy increased his stake in the stock. Also, he met with the company's CEO.

BuzzFeed downgraded by Cowen with a new price target

BuzzFeed downgraded by BofA Securities with a new price target

BofA Securities initiated coverage on BuzzFeed with a new price target

$BZFD
Financials

Live finance-specific insights

BuzzFeed, Inc. Delivers Strong Q3 Financial Results

BuzzFeed, Inc. to Release Third Quarter 2024 Financial Results on Tuesday, November 12, 2024

BuzzFeed, Inc. Posts Strong Q2 Financial Results and Expects Continued Improvement in Q3

$BZFD
SEC Filings

SEC Form 10-Q filed by BuzzFeed Inc.

BuzzFeed Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits

BuzzFeed Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

SEC Form SC 13G/A filed by BuzzFeed Inc. (Amendment)

Chat with this insight

Recent Analyst Ratings for $BZFD

$BZFD Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Chief Accounting Officer Weinstein Daniel converted options into 3,749 shares and covered exercise/tax liability with 1,352 shares, increasing direct ownership by 25% to 11,987 units (SEC Form 4)

CLO Arroyo David converted options into 25,845 shares and covered exercise/tax liability with 10,419 shares, increasing direct ownership by 21% to 88,062 units (SEC Form 4)

CFO Omer Matthew converted options into 62,085 shares and covered exercise/tax liability with 22,155 shares, increasing direct ownership by 29% to 177,888 units (SEC Form 4)

$BZFD Press Releases

Fastest customizable press release news feed in the world

BuzzFeed, Inc. Delivers Strong Q3 Financial Results

BuzzFeed, Inc. to Release Third Quarter 2024 Financial Results on Tuesday, November 12, 2024

BuzzFeed, Inc. Posts Strong Q2 Financial Results and Expects Continued Improvement in Q3

$BZFD Large Ownership Changes

This live feed shows all institutional transactions in real time.

$BZFD Leadership Updates

Live Leadership Updates

$BZFD Market Insights

Live Market Insights

$BZFD Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Amendment: SEC Form SC 13G/A filed by BuzzFeed Inc.

Amendment: SEC Form SC 13G/A filed by BuzzFeed Inc.

SEC Form SC 13D/A filed by BuzzFeed Inc. (Amendment)

BuzzFeed Studios And Acast Launch New Podcast, "Am I Doing It Wrong?" Presented By HuffPost

LOST iN Acquires BuzzFeed's Travel Vertical Bring Me!; No Financial Terms Disclosed

Social Media Personality Pulte X Post Stating "The Pulte Family Acquires Activist Position in BuzzFeed And Supports Changes Proposed by Vivek Ramaswamy..."; Shares Halt On Circuit Breaker To The Upside, Stock Now Up 17.1%

BuzzFeed shares are trading higher after Vivek Ramaswamy increased his stake in the stock. Also, he met with the company's CEO.

BuzzFeed downgraded by Cowen with a new price target

BuzzFeed downgraded by BofA Securities with a new price target

BofA Securities initiated coverage on BuzzFeed with a new price target

$BZFD Financials

Live finance-specific insights

BuzzFeed, Inc. Delivers Strong Q3 Financial Results

BuzzFeed, Inc. to Release Third Quarter 2024 Financial Results on Tuesday, November 12, 2024

BuzzFeed, Inc. Posts Strong Q2 Financial Results and Expects Continued Improvement in Q3

$BZFD SEC Filings

SEC Form 10-Q filed by BuzzFeed Inc.

BuzzFeed Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits

BuzzFeed Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Recent Analyst Ratings for
$BZFD

$BZFD
Insider Trading

$BZFD
Press Releases

$BZFD
Large Ownership Changes

$BZFD
Leadership Updates

$BZFD
Market Insights

$BZFD
Analyst Ratings

$BZFD
Financials

$BZFD
SEC Filings