Byron Allen Is Buying BuzzFeed, Will Become CEO

Site founder Jonah Peretti to become president of 'BuzzFeed AI'

By Todd Spangler

Todd Spangler

NY Digital Editor

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TV and media entrepreneur Byron Allen is acquiring a majority stake in BuzzFeed — investing $120 million in the 20-year-old digital media company — and will become CEO. Allen plans to expand BuzzFeed and HuffPost into “free-streaming video, audio and user-generated content.”

BuzzFeed on Monday announced that it entered into a transaction agreement with Allen Family Digital, an affiliate of Byron Allen’s family office, under which BuzzFeed will accept the majority investment.

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