Allen to Acquire Majority BuzzFeed Stake, Takes Control of BZFD
TL;DR Summary
Media entrepreneur Byron Allen agreed to acquire a majority stake in BuzzFeed for $120 million and will become CEO, a move that sent BZFD shares higher after-hours; BuzzFeed has faced profitability challenges with a Q1 loss of $15.1 million on $31.6 million in revenue, and closing is expected by end of May 2026 via $20 million cash at closing plus a $100 million promissory note at 5% over five years, as Allen aims to turn the company around.
- Byron Allen Buys BuzzFeed for $120M and Becomes CEO — What It Means for BZFD Stock TipRanks
- Byron Allen Is Buying a Controlling Stake in BuzzFeed The New York Times
- Byron Allen strikes deal to buy controlling stake in BuzzFeed and become CEO Axios
- BuzzFeed’s stock more than doubles as beleaguered media company gets a lifeline MarketWatch
- 05-12-2026 Daily Edition The Hollywood Reporter
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