Variety
·entertainment
·1 hour ago
Byron Allen acquires BuzzFeed majority stake for streaming service merger
Byron Allen's media company is acquiring a 52% controlling stake in struggling BuzzFeed for $20 million cash plus a $100 million promissory note. Allen plans to merge BuzzFeed and HuffPost into a free ad-supported streaming service using his Weather Channel's Local Now platform. The deal, expected to close by month's end, positions Allen as BuzzFeed's new chairman.
Summary by Glance · Variety
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