
Allen to Acquire BuzzFeed and HuffPost, Rebooting Digital Media
Byron Allen's Allen Family Digital agreed to buy a 52% stake in BuzzFeed for $120 million (40 million shares at $3) with $20 million upfront and $100 million due in five years, and will also take over HuffPost. Allen becomes chairman and CEO; HuffPost will be included; BuzzFeed AI leadership to be led by Jonah Peretti as president of BuzzFeed AI; BuzzFeed Studios and Tasty to spin off; deal aims to expand into free streaming video and digital content while cutting costs ahead of the takeover.



