Summary by Futu AI
Verizon Communications Inc. and its subsidiaries have filed an amendment to their Schedule 13G, indicating changes in their ownership of BuzzFeed, Inc.'s Class A Common Stock. As of September 30, 2024, Verizon Ventures LLC, a wholly owned subsidiary of Verizon, directly owns 642,222 shares, representing 1.8% of the class. Additionally, MCI Communications Services LLC, another Verizon subsidiary, directly owns 1,250,000 shares, which accounts for 3.4% of the class. The filing, dated November 14, 2024, follows a series of transactions including a reverse stock split and the sale of shares by Verizon Ventures. The total shares beneficially owned by Verizon's subsidiaries amount to 5.2% of BuzzFeed's Class A Common Stock. The filing ensures compliance with SEC regulations and indicates that the holdings are not intended for the purpose of changing or influencing the control of BuzzFeed.