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NBCUniversal Sells $10.1 Million Worth of BuzzFeed Stock After Vivek Ramaswamy Discloses 7.7% Stake in Company

NBCUniversal sold more than half the shares it owns in BuzzFeed after Vivek Ramaswamy disclosed that he had acquired a 7.7% stake in BuzzFeed.

Comcast-owned NBCUniversal disposed of more than half the shares it owns in BuzzFeed, a transaction that netted it $10.15 million. NBCU’s stock sale came a day after entrepreneur and right-wing politician Vivek Ramaswamy disclosed that he had acquired a 7.7% stake in BuzzFeed and intended to “engage in a dialogue” with BuzzFeed’s board about “opportunities to maximize shareholder value, including a shift in the company’s strategy.” After Ramaswamy’s acquisition of 2.7 million shares of BuzzFeed was disclosed, the company’s stock popped as much as 80% Wednesday before closing at $3.01/share, up 20% for the day.

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