Verizon Communications and Hearst Corp have jointly acquired millennial-focused pop culture publisher Complex Media, Inc.

Terms of the deal were not disclosed.

Founded in 2002, Complex self-describes as one of the fastest growing networks of sites focused on American popular culture from entertainment news, sneakers and hip hop music to food, fashion, sports, and technology, geared at the millennial male.

The company is said to have been profitable since 2010, although no data was available as to how much traffic they were pushing through, or money they were making.

“The decision to acquire Complex is certainly a continuation of our media strategy, which is focused on disruption that is occurring in digital media and content distribution, and involves building a portfolio of the emerging digital brands of the future for the millennial and Gen-Z audience,” Verizon Senior Vice President of Consumer Product and Marketing Brian Angiolet said in a statement. “When we look at Complex and how well they’ve built audiences by championing the digital convergence of cultures for well over a decade, it pairs well with our strategic vision and current shifts in content consumption.”

Media buys

The announcement follows Verizon and Hearst’s joint investment in AwesomenessTV and an agreement in March to form a 50/50 joint venture to build new multiplatform digital video channels targeting the mobile millennial audience.

Of note, Heart itself was previously a minority owner in Complex through a previous $21 million investment.

“Complex will turn up the volume on our growing portfolio with Verizon, complementing the audiences targeted with our other channel investments,” Hearst Entertainment & Syndication Co-President Neeraj Khemlani added. “Complex’s smart, fresh content aims squarely at the ever elusive young male demo and drives unparalleled engagement with that audience across every social channel. Complex also represents the acceleration of Hearst’s growing partnership with Verizon, which has unparalleled ad, video and mobile technology, and an appetite to build together the digital video networks of the future.”

Under the deal Complex will develop premium video content for distribution across Verizon digital platforms, including go90, AOL.com and more.

Prior to acquisition Complex had raised $60.53 million from investors including Accel, Austin Ventures, Chris Pacitti, Hearst, S3 Ventures, and Iconix Brand Group.

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