Byron Allen to buy majority stake in BuzzFeed for $120 million, shares nearly triple - Reuters

<a href="https://news.google.com/rss/articles/CBMi4gFBVV95cUxOZjRRQVk2UzlJN0NPd1V6ekh4Z2EwNUJBSU94OVhvUlJUZGxYNUJCQVlldWRNclpFRHVrbUhtMHpnUXg3Z1dEZThtNm95Ym9wT0xQYjhCVDAtUjRFMVlqSXVYSk12Umdiam43MFVoSWJsRkN5VWNURHkzWG5RRWt0SFBLd2V1MjdVUU1IWmZVU1JZbTlFLTQ2ZDRyMTdYdTB4ZGd6UVd3U2xUa3BvdGhacHZsVHZ0eFRHb3VyR3NfM2s4RVBoZk40dW02R1pQcHBnU0ZtMU53M0VaZUpaeXFLS3Bn?oc=5" target="_blank">Byron Allen to buy majority stake in BuzzFeed for $120 million, shares nearly triple</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Media entrepreneur Byron Allen has agreed to acquire a 52% stake in BuzzFeed for $120 million, with plans to become the new CEO and chairman, while founder Jonah Peretti will transition to president of BuzzFeed AI.

BuzzFeed has sold a controlling stake to media entrepreneur Byron Allen, who will replace founder Jonah Peretti as CEO, with significant cost cuts expected ahead of the leadership change.

Byron Allen is set to acquire control of BuzzFeed for $120 million, rescuing the struggling digital media firm from likely extinction, with plans to succeed Jonah Peretti as CEO.