Variety
·entertainment
·1 hour ago
Byron Allen acquires BuzzFeed majority stake for $120 million total
Byron Allen agreed to acquire a 52% controlling stake in struggling BuzzFeed for $20 million cash plus a $100 million promissory note. The media entrepreneur plans to transform BuzzFeed and HuffPost into a "premier global free streaming service" leveraging his Weather Channel's Local Now platform. Allen also takes over Stephen Colbert's CBS late-night.
Summary by Glance · Variety
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